Michaelsen v. New York State Tax Commission

OPINION OF THE COURT

Vincent G. Bradley, J.

The petitioners bring this CPLR article 78 proceeding seeking to annul a final determination and decision made and adopted on February 4, 1983 by the respondent commission upon the grounds that it is erroneous and/or arbitrary and capricious.

All of the pertinent facts in this matter have been stipulated by the parties. In 1968 the petitioner James Michaelsen’s employer, Avon Products, Inc., a New York City based corporation, granted Mr. Michaelsen, a corporate group vice-president, stock options to purchase Avon Products, Inc., capital stock pursuant…