Case ID: ny_242/html/0502-01.html
Source: Caselaw Access Project
Author: {"author": "", "license": "Public Domain", "url": "https://static.case.law/"}
Date Created: 2024-08-24T03:29:51.129683

The People of the State of New York ex rel. George A. Fuller Company, Appellant and Respondent, v. Walter W. Law, Jr., et al., Constituting the State Tax Commission, Respondents and Appellants.
    
      Tax — foreign corporations — franchise tax — determination of net , income.
    
    
      People ex rel. Fuller v. Law, 206 App. Div. 800, affirmed.
    (Argued January 12, 1926;
    decided January 22, 1926.)
    Cross-appeals from an order of the Appellate Division of the Supreme Court in the third judicial department, entered January 18, 1924, which modified and confirmed as modified a determination of the State Tax Commission assessing a franchise tax against the relator, a foreign corporation. The relator appeals from so much of said order as - confirmed that portion of the determination of the Tax Commission which, in determining the 'amount of relator’s net income to be allocated to this State, included stocks of other corporations at their full value, instead of limiting the same to not exceeding ten per cent of the real and tangible personal property as contended for. The Tax Commission appeals from so much of said order as reversed that portion of its determination which included in the relator’s entire net income the interest on bonds held by it and which remitted the matter to the Commission, with a direction to deduct from said entire net income for the years in question the amount of interest received by the relator from the bonds owned by it.
    
      F. M. Sanders for relator, appellant and respondent.
    
      Albert Ottinger, Attorney-General (Wendell P. Brown and Claude T. Dawes of counsel), for defendants, respondents and appellants.
   Order affirmed, without costs; no opinion.

Concur: His cock, Ch. J., Cardozo, Pound, McLaughlin, Crane, Andrews and Lehman, JJ.