P. J. Garvey Carting & Storage, Inc. v. State Tax Commission

This proceeding is brought under section 199 of the Tax Law and article 78 of the CPLR to review a determination of the State Tax Commission which sustained a corporation -franchise tax assessment purportedly imposed pursuant to section 183 of the Tax Law.

Section 183 imposes upon each transportation and transmission corporation an annual franchise tax upon the net value of its issued capital stock, the minimum tax being not less than $10 nor less than one mill on each dollar of net value; but provides, further, that “ if the dividends paid on the par value of any kind of capital stock during…