Schroeder v. Zink

The opinion of the court was delivered by

Ackeksom, J.

This appeal involves the applicability of the Transfer Inheritance Tax Act, R. S. 54:34-l(c), to the transfer of corporate stock under the circumstances disclosed by the following stipulated facts. On July 23, 1937, Arthur E. Schroeder and his brother, Leslie, were officers of and the principal stockholders in a ETew Jersey corporation known as Atlas Refinery (hereinafter referred to as the Refinery). Each brother owned a total of 527 shares of the common stock of that company out of a total of 1,095 then outstanding. Arthur was then…