Legal Opinion
Mobil Oil Corp. v. Director, Division of Taxation
New Jersey Tax Court
Decided September 24, 1990PublishedCited by 2 opinions
1Opinion of the Court
LASSER, P.J.T.C.
Plaintiff, Mobil Oil Corporation (“Mobil”), seeks review of a final determination by the Director, Division of Taxation (“Director”), with respect to its 1980 corporation business tax return. N.J.S.A. 54:10A-1 et seq. The Director required Mobil to include certain capital gain income in its “adjusted entire net income,” resulting in higher corporation business tax (“CBT”) liability. This capital gain was derived from Mobil’s sale of its 17.9% interest in the Belridge Oil Company (“Belridge”) in connection with the Belridge merger with an indirect subsidiary of Shell Oil…
2Cases cited8 opinions
- Container Corp. of America v. Franchise Tax BoardSupreme Court of the United States · 1983
- Mobil Oil Corp. v. Commissioner of Taxes of Vt.Supreme Court of the United States · 1980
- Exxon Corp. v. Department of Revenue of Wis.Supreme Court of the United States · 1980
- ASARCO Inc. v. Idaho State Tax CommissionSupreme Court of the United States · 1982
- FW Woolworth Co. v. Taxation and Revenue Dept. of NMSupreme Court of the United States · 1982
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3Cited by2 opinions
- Mobil Oil Corp. v. DirectorNew Jersey Superior Court Appellate Division · 1992
- Texaco Inc. v. DirectorNew Jersey Tax Court · 1994