GARFIELD TRUST CO. v. TAXATION DIV. DIRECTOR


6 N.J. Tax 462 (1984)

GARFIELD TRUST COMPANY, PLAINTIFF, v. DIRECTOR, DIV. OF TAXATION, DEFENDANT.

Tax Court of New Jersey.

June 19, 1984.


Attorney(s) appearing for the Case

Glenn T. Leonard for plaintiff (Checki & Politan, attorneys).

Harry Haushalter for defendant (Irwin I. Kimmelman, Attorney General of New Jersey, attorney).


CONLEY, J.T.C.

This litigation involves the 1977 corporation business tax liability of a commercial banking corporation chartered by the State of New Jersey. The New Jersey Corporation Business Tax Act (1945) has imposed an annual franchise tax on banking corporations since 1976. N.J.S.A. 54:10A-34; L. 1975, c. 170, § 4.* The amount of a taxpayer's corporate business tax liability is determined by the addition...

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