CIT FIN. SERVICES, ETC. v. TAXATION DIV. DIRECTOR


4 N.J. Tax 568 (1982)

CIT FINANCIAL SERVICES CONSUMER DISCOUNT COMPANY, PLAINTIFF, v. DIRECTOR, DIVISION OF TAXATION, DEFENDANT.

Tax Court of New Jersey.

September 17, 1982.


Attorney(s) appearing for the Case

Marie L. Garibaldi for plaintiff (Riker, Danzig, Scherer & Hyland, attorneys).

Martin L. Wheelwright for defendant (Irwin I. Kimmelman, Attorney General of New Jersey, attorney).


CRABTREE, J.T.C.

Plaintiff seeks review of defendant's determination that plaintiff is subject to the New Jersey Corporation Income Tax Act, N.J.S.A. 54:10E-1 et seq., for the calendar years 1976 and 1977. The determination is based upon income attributable to loans made by plaintiff to New Jersey residents. Plaintiff claims that the determination and any tax assessed pursuant thereto violate the Due Process...

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