EWH 1979 Development Co. v. State

LASSER, P.J.T.C.

Taxpayers contest the denial of their claim for refund of $149,100 in realty transfer fees paid on the recording of deeds conveying real property to a general partnership in which the grantor held a 50% interest. Taxpayer EWH 1979 Development Company, L.P. (“EWH”), a California limited partnership authorized to conduct business in New Jersey, entered into an agreement with Prudential Insurance Company of America (“Prudential”) on October 17, 1986, under which Prudential and EWH would each have a 50% interest in the development and operation of the Bridgewater Mall project. The…