Zuckerman-Vernon Corp. v. State, Department of Revenue

SMITH, Judge.

Zuckerman-Vernon Corp. has petitioned for review of the Department’s assessment of documentary stamp taxes in the amount of $55,649.70 and a penalty in the same amount for petitioner’s failure to affix documentary stamps to a deed from Bayshore 21, Inc., to petitioner and its joint venturer, Marvin Glick. Secs. 120.68, 201.02, P.S. 1975. Petitioner insists that the conveyance from Bayshore to the joint venturers on August 27, 1973, was but part of the same transaction in which Bayshore acquired the property August 23, 1973, as trustee for the joint venturers. Documentary stamps…