Legal Opinion
Toys "R" Us, Inc. v. Taxation Division Director
New Jersey Tax Court
Decided December 10, 1985PublishedCited by 6 opinions
1Opinion of the Court
ANDREW, J.T.C.
This is a state tax case involving the Corporation Business Tax Act, N.J.S.A. 54:10A-1 et seq. The issue presented is whether a wholly-owned subsidiary must include indebtedness owed by it to its parent corporation as part of its net worth in computing its franchise tax liability for the tax years of 1974 and 1975 pursuant to N.J.S.A. 54:10A-4(d)(5) (hereinafter § 4(d)(5)).
The present plaintiff, Toys “R” Us, Inc. brings this action on behalf of a predecessor corporation, Toys “R” Us-NJ (Toys-NJ). The facts were stipulated. Toys-NJ, a toy supermart business, was incorporated in…
2Cases cited21 opinions
- State v. ButlerSupreme Court of New Jersey · 1982
- Kingsley v. Hawthorne Fabrics, Inc.Supreme Court of New Jersey · 1964
- Fedders Financial Corp. v. Director, Division of TaxationSupreme Court of New Jersey · 1984
- General Trading Co. v. Taxation Div. DirectorSupreme Court of New Jersey · 1980
- MacMillan v. Taxation Div. DirectorNew Jersey Superior Court Appellate Division · 1981
16 more not listed; retrieve them via the Exa API.
3Cited by6 opinions
- Chevron U.S.A., Inc. v. City of Perth AmboyNew Jersey Tax Court · 1987
- In Re St. Johnsbury Trucking Co. Inc.United States Bankruptcy Court, S.D. New York · 1997
- L.B.D. Construction, Inc. v. Director, Div. of TaxationNew Jersey Tax Court · 1986
- Rollins Leasing Corp. v. DirectorNew Jersey Superior Court Appellate Division · 1994
- Rollins Leasing Corp. v. DirectorNew Jersey Tax Court · 1993
1 more not listed; retrieve them via the Exa API.