Legal Opinion
Morgan Guaranty Trust Co. v. Tax Appeals Tribunal
Appellate Division of the Supreme Court of the State of New York
Decided May 9, 1991PublishedCited by 2 opinions
1Opinion of the Court
OPINION OF THE COURT
Yesawich, Jr., J.
At issue is whether this State’s 10% gains tax (see, Tax Law art 31-B) on real property transfers applies to a transaction completed by a qualified employee benefit plan under the Federal Employee Retirement Income Security Act of 1974 (hereinafter ERISA) (see, 29 USC § 1001 et seq.). We conclude that it does not.
The parties have stipulated to the relevant facts. Petitioner has served as successor trustee for American Motors Corporation’s Union Retirement Income Plan (hereinafter the plan) since 1969. Prior to that time, a not-for-profit corporation whose…
2Cases cited12 opinions
- Shaw v. Delta Air Lines, Inc.Supreme Court of the United States · 1983
- Pilot Life Insurance v. DedeauxSupreme Court of the United States · 1987
- Ingersoll-Rand Co. v. McClendonSupreme Court of the United States · 1990
- Metropolitan Life Insurance v. MassachusettsSupreme Court of the United States · 1985
- Alessi v. Raybestos-Manhattan, Inc.Supreme Court of the United States · 1981
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3Cited by2 opinions
- Dime Savings Bank of New York v. StateAppellate Division of the Supreme Court of the State of New York · 1992
- United Health Services, Inc. v. Upstate Administrative Services, Inc.New York Supreme Court · 1991