People Ex Rel. Mutual Trust Co. v. . Miller
New York Court of Appeals
Appeal from an order of the Appellate Division of the Supreme Court in the third judicial department, entered August 5, 1903, which confirmed a determination of the defendant in refusing to revise a tax assessed against the relator for the year ending June 30, 1901. The facts, so far as material, are stated in the opinion.
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Appeal from an order of the Appellate Division of the Supreme Court in the third judicial department, entered August 5, 1903, which confirmed a determination of the defendant in refusing to revise a tax assessed against the relator for the year ending June 30, 1901. The facts, so far as material, are stated in the opinion. If the trust company was assessable at all, it was only assessable on its capital stock and surplus spread out over twelve months; that is, on -g-$T of $360,000, and the tax would be g-f-g- of $3,600, or $59.18. (People ex rel. v. Morgan, 168 N. Y. 672; 51 App. Div. 335 ;…
1Opinion of the CourtVann, J.
The relator, a trust company with the powers which its name implies, was organized on the 6th of June, 1901, and began to do business on the 24th of that month. Its capital was $300,000, its surplus, paid in with the capital, was $60,000, and it had no undivided profits when the question presented by this appeal arose. On the 30th of August, 1901, the comptroller imposed a tax of $3,600 upon its capital and surplus amounting to $360,000, which he declared was “ for tax on franchise or business based on capital stock, surplus and undivided profits, per chap. 132, Laws 1901, as amended by chap.…
2Cases cited7 opinions
- In Re the Appraisal Under the Transfer Tax Act of a Certain Trust Fund Held by HarbeckNew York Court of Appeals · 1900
- Powell v. . TuttleNew York Court of Appeals · 1850
- People Ex Rel. Tiffany Co. v. . CampbellNew York Court of Appeals · 1894
- In Re the Appraisal Under the Collateral Inheritance Tax Act of the Property of FayerweatherNew York Court of Appeals · 1894
- People ex rel. New England Loan & Trust Co. v. RobertsAppellate Division of the Supreme Court of the State of New York · 1898
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3Cited by56 opinions
- Grace v. New York State Tax CommissionNew York Court of Appeals · 1975
- New York v. JersawitSupreme Court of the United States · 1924
- New York Life Insurance v. State Tax CommissionAppellate Division of the Supreme Court of the State of New York · 1981
- Young v. BragaliniNew York Court of Appeals · 1958
- Matter of Good Humor Corporation v. McGoldrickNew York Court of Appeals · 1943
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