Legal Opinion
Feld v. Director, Division of Taxation
New Jersey Tax Court
Decided November 9, 1981PublishedCited by 5 opinions
1Opinion of the Court
CRABTREE, J. T. C.
Plaintiffs seek review of defendant’s determination that gain realized by plaintiffs from the 1975 sale of their improved, income-producing real property was taxable under the Tax on Capital Gains and Other Unearned Income Act, N.J.S.A. *47854:8B-1 et seq., since repealed. The deficiency arising from such determination is $9,966.87, plus penalty and interest. The sole issue is whether gain from the sale of real property used in plaintiffs’ trade or business and subject to the allowance for depreciation (commonly referred to as “section 1231 property”) is subject to tax under the…
2Cases cited17 opinions
- Sutton v. DukeSupreme Court of North Carolina · 1970
- Peper v. Princeton University Board of TrusteesSupreme Court of New Jersey · 1978
- Service Armament Co. v. HylandSupreme Court of New Jersey · 1976
- New Jersey State Chamber of Commerce v. New Jersey Election Law Enforcement CommissionSupreme Court of New Jersey · 1980
- In Re the Closing of Jamesburg High SchoolSupreme Court of New Jersey · 1980
12 more not listed; retrieve them via the Exa API.
3Cited by5 opinions
- Layton F. v. DirectorNew Jersey Tax Court · 1984
- Sabino v. Director, Division of TaxationNew Jersey Tax Court · 1997
- Eagle Plaza Associates v. Voorhees TownshipNew Jersey Tax Court · 1984
- Panta Astor, Inc. v. Taxation Division DirectorNew Jersey Tax Court · 1986
- Swift v. Taxation Division DirectorNew Jersey Tax Court · 1982