APPLESTEIN v. TAXATION DIV. DIRECTOR


5 N.J. Tax 73 (1982)

SCOTT APPLESTEIN, PLAINTIFF, v. DIRECTOR, DIVISION OF TAXATION, DEFENDANT.

Tax Court of New Jersey.

December 27, 1982.


Attorney(s) appearing for the Case

Edward M. Bernstein for plaintiff (Levy, Levy & Albert, attorneys).

Mary R. Hamill, Deputy Attorney General for defendant (Irwin I. Kimmelman, Attorney General of New Jersey, attorney).


CONLEY, J.T.C.

This case involves plaintiff's challenge to an assessment of $2,336.81 plus interest under the New Jersey Gross Income Tax Act, N.J.S.A. 54A:1-1 et seq. In his complaint plaintiff recites that in 1977 he engaged in numerous "arbitrage operations" involving the purchase of many thousands of shares of stock and that he incurred $93,362 in interest charges associated with the transactions. Plaintiff...

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