Reid v. Exports, Inc.

The trial court ruled that the inventory owned by the appellee, Exports, Inc. and stored in U.S. Customs bonded warehouses solely for export from the United States was not subject to state and ad valorem taxation. On the authority of the following cases we believe the trial court’s ruling was correct: McGoldrick v. Gulf Oil Corporation, 309 U.S. 414, 60 S.Ct. 664, 84 L.Ed. 840 (1940); Epstein v. Lordi, 261 F.Supp. 921 (D.N.J.1966), affirmed 389 U.S. 29, 88 S.Ct. 106, 19 L.Ed.2d 29 (1967); District of Columbia v. International Distributing Corporation, 118 U.S.App.D.C. 71, 331 F.2d 817 (1964);…