American Fire & Casualty Co. v. New Jersey Division of Taxation

This appeal requires an examination of the methodology used by the Director of the Division of Taxation (Director) in applying this State’s taxing scheme on foreign insurers doing business in New Jersey. Specifically, as the majority properly observes, our task in this appeal is to “determine the proper relationship between the State’s retaliatory tax statute, N.J.S.A. 17:32-15, 17B:23-5, and its premium tax cap statute, N.J.S.A. 54:18A-6(a).” Ante, 189 N.J. at 69, 912 A.2d at 128 (2006). Harmonizing these two statutes, the Director computed the retaliatory tax to which these foreign insurers…