Legal Opinion
John F. v. Director, Division of Taxation
New Jersey Tax Court
Decided January 3, 1991PublishedCited by 1 opinion
1Opinion of the Court
LASSER, P.J.T.C.
Taxpayers, John F. and Carolyn M. Gilligan, contest a New Jersey gross income tax deficiency assessment of $2,648.11, including penalty and interest, imposed on them by the Director, Division of Taxation (“Director”) for tax year 1987 pursuant to N.J.S.A. 54A:1-1 et seq. At issue is the deductibility of margin interest and other expenses associated with the buying and selling of securities. The facts which follow are from taxpayers’ answers to interrogatories and testimony given by Mr. Gilligan at trial, and are uncontradicted.
John Gilligan retired from a position in the…
2Cases cited7 opinions
- Higgins v. CommissionerSupreme Court of the United States · 1941
- Commissioner v. GroetzingerSupreme Court of the United States · 1987
- Snyder v. CommissionerSupreme Court of the United States · 1935
- Walsh v. Director, Division of TaxationNew Jersey Tax Court · 1982
- Walsh v. Taxation Div. DirectorNew Jersey Superior Court Appellate Division · 1982
2 more not listed; retrieve them via the Exa API.
3Cited by1 opinion
- Vinnik v. Director, Division of TaxationNew Jersey Tax Court · 1992