MORRIS & ESSEX INVEST CO. v. DIRECTOR OF DIV. OF TAXATION


33 N.J. 24 (1960)

161 A.2d 491

MORRIS & ESSEX INVESTMENT CO., INC., A NEW JERSEY CORPORATION, PETITIONER-APPELLANT, v. DIRECTOR OF DIVISION OF TAXATION, RESPONDENT.

The Supreme Court of New Jersey.

Decided June 6, 1960.


Attorney(s) appearing for the Case

Mr. Donald B. Jones argued the cause for the petitioner-appellant (Mr. Frank W. Hoak, on the brief).

Mr. Murry Brochin argued the cause for the respondent (Mr. David D. Furman, Attorney General, attorney; Mr. Murry Brochin, on the brief).


The opinion of the court was delivered by PROCTOR, J.

The single question presented by this case is whether the petitioner Morris & Essex Investment Co., Inc., a New Jersey corporation engaged solely in lending money on the security of second mortgage liens on real estate, is taxable under the Financial Business Tax Law. L. 1946, c. 174, N.J.S.A. 54:10B-1 et seq. The Director of the Division of Taxation determined that it was...

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