Legal Opinion
Philip Caprio v. New York State Department of Taxation and Finance
New York Court of Appeals
Decided July 1, 2015No. 116PublishedCited by 5 opinions
1Opinion of the Court
OPINION OF THE COURT
Stein, J.
On this appeal, we are asked to decide whether the 3 1 /2-year retroactive application of the 2010 amendments to Tax Law § 632 (a) (2) (L 2010, ch 57, § 1, part C) is unconstitutional, as applied to plaintiffs, under the Due Process Clauses of the United States and New York State Constitutions. The amendments, as applied here, involve the intersection of two federal tax statutes, 26 USC §§ 338 (h) (10) and 453 (h) (1) (A), which address “deemed asset sales” and use of the installment method of accounting, respectively. Plaintiffs challenge the amendments insofar…
2Cases cited12 opinions
- Welch v. HenrySupreme Court of the United States · 1938
- United States v. CarltonSupreme Court of the United States · 1994
- Affronti v. CrossonNew York Court of Appeals · 2001
- Chatlos v. McGoldrickNew York Court of Appeals · 1951
- James Square Associates LP v. MullenNew York Court of Appeals · 2013
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3Cited by5 opinions
- Robert R. Burton v. New York State Department of Taxation and FinanceNew York Court of Appeals · 2015
- Caprio v. New York State Department of Taxation & FinanceNew York Court of Appeals · 2015
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- Patrick Lynch v. City of New YorkNew York Court of Appeals · 2020
- The Matter of Regina Metropolitan Co. v. NYS Division of Housing and Community Renewal, Joel Raden v. W7879 , James Taylor v. 72A Realty Associates , Elizabeth Reich v. Belnord PartnersNew York Court of Appeals · 2020