People Ex Rel. New York & East River Ferry Co. v. Roberts
New York Court of Appeals
Appeal from an order of the Appellate Division of the Supreme Court in the third judicial department, entered December 29, 1898, which confirmed on certiorari the proceedings of the defendant in assessing a franchise tax against the relator and refusing to revise the same. The facts, so far as material, are stated in the opinion.
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Appeal from an order of the Appellate Division of the Supreme Court in the third judicial department, entered December 29, 1898, which confirmed on certiorari the proceedings of the defendant in assessing a franchise tax against the relator and refusing to revise the same. The facts, so far as material, are stated in the opinion. The basis of taxation of the relator is not the par value of its issued capital share stock, but is (the declared dividends, being four per cent, and entire capital of the relator employed in this state) the appraised capital of relator. (People ex rel. v. Roberts,…
1Opinion of the CourtCullen, J.
The relator is a domestic corporation engaged in the operation of a ferry between Long Island City and the city of PTew York. The facts as to its financial condition during the year 1896, for which the tax in disjirate was imposed, are as follows : Its capital stock was $750,000, issued for cash, and its bonded indebtedness amounted to a like sum. The bonds and cash were paid for the. ferry property. The value of the tangible assets of the company, excluding its franchise, was $359,500, all employed within this state. The highest market price of the relator’s share stock during the year was…
2Cited by9 opinions
- People Ex Rel. Fifth Avenue Building Co. v. WilliamsNew York Court of Appeals · 1910
- Peo. Ex Rel. N.Y.C., Etc., R.R. Co. v. . KnightNew York Court of Appeals · 1903
- People ex rel. Union Ferry Co. v. RobertsAppellate Division of the Supreme Court of the State of New York · 1901
- People ex rel. New York Central & Hudson River Railroad v. KnightAppellate Division of the Supreme Court of the State of New York · 1902
- Wolf v. Palisades Trust Guaranty Co.New Jersey Court of Chancery · 1937
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