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AMERADA HESS CORP. v. DIV. OF TAX

107 N.J. 307 (1987)

526 A.2d 1029

AMERADA HESS CORPORATION, ATLANTIC RICHFIELD COMPANY, CONOCO INC., CITIES SERVICE COMPANY, EXXON CORPORATION, PHILLIPS PETROLEUM COMPANY, CHEVRON U.S.A. INC., MOBIL OIL CORPORATION, UNION OIL COMPANY OF CALIFORNIA, GULF OIL CORPORATION, SHELL OIL COMPANY, DIAMOND SHAMROCK CORPORATION, TENNECO OIL COMPANY, AND TEXACO, INC., PLAINTIFFS-RESPONDENTS, v. DIRECTOR, DIVISION OF TAXATION, DEFENDANT-APPELLANT.

The Supreme Court of New Jersey.

Decided June 22, 1987.

Attorney(s) appearing for the Case

Mary R. Hamill, Deputy Attorney General, argued the cause for appellant (W. Cary Edwards, Attorney General of New Jersey, attorney; James J. Ciancia, Assistant Attorney General, of counsel).

Charles M. Costenbader argued the cause for respondents Atlantic Richfield Company, Conoco Inc., Cities Service Company, Exxon Corporation, Phillips Petroleum Company, Chevron USA Inc., Mobil Oil Corporation, Union Oil Company of California, Gulf Oil Corporation, Shell Oil Company and Diamond Shamrock Corporation (Stryker, Tams & Dill, attorneys; Charles H. Friedrich, on the brief).

Ralph A. Muoio, a member of the District of Columbia bar, argued the cause for respondent Amerada Hess Corporation (Wilentz, Goldman & Spitzer, attorneys).

Laurence Reich argued the cause for respondents Texaco, Inc. and Tenneco Oil Company (Carpenter, Bennett & Morrissey, attorneys).

The opinion of the court was delivered by KING, P.J.A.D. (temporarily assigned).

This case concerns the interpretation of seven words in the New Jersey Corporation Business Tax (C.B.T.), N.J.S.A. 54:10A-1 to -40. These seven words, "on or measured by profits or income," determine whether the Federal Windfall Profit Tax on Domestic Crude Oil (W.P.T.), 26 U.S.C.A. § 4986 to § 4998, is excludable in computing the oil company plaintiffs' net income...

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