National Commercial Title v. City of Newark

Quinn, President.

Petitioner was subject to taxation for the year 1937 upon its capital stock paid in and accumulated surplus, under the provisions of Pamph. L. 1918, ch. 236, *187§ 307 (R. S. 54:4-22), since superseded by Pamph. L. 1938, ch. 245. The statute then read as follows:

“Every fire insurance company and every stock insurance company other than life insurance, shall be assessed in the taxing district where its office is situate, upon the full amount of its capital stock paid in and accumulated surplus. The real estate belonging to every such corporation shall be taxed in the taxing…