City of Newark v. Universal Indemnity Insurance

Quinn, President.

Each of the respondents is a stock insurance company, subject to assessment for the tax years 1937 and 1938, upon capital stock and accumulated surplus, under Pamph. L. 1918, ch. 236, § 307 (R. S. 54:4-22; N. J. S. A. 54:4-22), “in the taxing district where its office is sit*508uate.” Assessments were levied by the city of Newark against Universal Insurance Company, in the sum of $575,000 for each of the years 1937 and 1938, and against Universal Indemnity Insurance Company in the amount of $320,300, for said years. Upon appeal to the Essex County Board of Taxation, each…