Legal Opinion
McDonald v. Director, Division of Taxation
New Jersey Tax Court
Decided September 29, 1989PublishedCited by 2 opinions
1Opinion of the Court
RIMM, J.T.C.
This is a gross income tax matter in which defendant originally assessed taxes against plaintiffs1 for 1985 in the amount of $226,941, together with interest and penalties. The assessment of taxes is based on defendant’s claim that plaintiff was a resident of the State of New Jersey in 1985 and had income as follows:
Wages $ 32,425
Interest 48,071
Dividends 10,040
Capital Gains 4,092,378
Pensions 2,251,350
Other Income 70,917
Total $6,505,181
*558The capital gains and pensions items comprise payment to plaintiff of $6,460,9992 in 1985 from the profit sharing plan of his employer, National…
2Cases cited22 opinions
- Commissioner v. LoBueSupreme Court of the United States · 1956
- Shaffer v. CarterSupreme Court of the United States · 1920
- Gabin v. Skyline Cabana ClubSupreme Court of New Jersey · 1969
- Sorensen v. Director, Division of TaxationNew Jersey Tax Court · 1981
- Sorensen v. Taxation Div. DirectorNew Jersey Superior Court Appellate Division · 1981
17 more not listed; retrieve them via the Exa API.
3Cited by2 opinions
- McDonald v. DirectorNew Jersey Superior Court Appellate Division · 1991
- Eiszner v. Director, Division of TaxationNew Jersey Tax Court · 2000