Legal Opinion
Mortgage Corp. v. Graves
Appellate Division of the Supreme Court of the State of New York
Decided July 2, 1941Published
1Opinion of the CourtSchenck, J.
This is a submission of controversy on an agreed statement of facts under sections 546-548 of the Civil Practice Act. The question is whether plaintiff corporation is taxable under section 187 of the Tax Law or under article 9-A of the Tax Law. If taxable under section 187, the corporation would pay taxes based only upon receipts from insurance premiums on policies issued. If taxable under article 9-A, the tax would be based upon net income earned by the corporation from ordinary business activities.
The plaintiff was incorporated on August 2, 1933, under the provisions of former article 5 of…
2Cases cited6 opinions
- In Re the Transfer Tax Upon the Estate of De PeysterNew York Court of Appeals · 1914
- In Re the Appraisal of the Estate of WatsonNew York Court of Appeals · 1902
- People ex rel. Goodwin Sand & Gravel Co. v. LawAppellate Division of the Supreme Court of the State of New York · 1924
- People Ex Rel. Butterick Company v. GilchristNew York Court of Appeals · 1925
- People ex rel. W. W. Hodkinson Corp. v. CantorNew York Supreme Court · 1922
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