TINA SCHILLER TRUST FOR BENEFIT OF SIEGELBAUM v. DIR., DEPT. OF TREASURY, DIV. OF TAXATION


14 N.J. Tax 173 (1994)

TINA SCHILLER TRUST FOR BENEFIT OF SUE ANN SIEGELBAUM, ROBERT SIEGELBAUM, JONATHAN SIEGELBAUM, AMY SIEGELBAUM, BRUCE HEIMLICH, ADAM HALSBAND, ANDREW S. BOSIN, GERI E. HALSBAND, MICHAEL R. HALSBAND, JANE HALSBAND CASDEN, SETH BOSIN AND COREY BOSIN, PLAINTIFFS-APPELLANTS, v. DIRECTOR, THE DEPARTMENT OF THE TREASURY, DIVISION OF TAXATION FOR THE STATE OF NEW JERSEY, DEFENDANT-RESPONDENT.

Superior Court of New Jersey, Appellate Division.

Decided January 21, 1994.


Attorney(s) appearing for the Case

Mark S. Friedman argued the cause for appellants (Friedman, Siegelbaum and Kleinberg, Kaplan, Wolff & Cohen, attorneys; James P. Anelli and Bruce D. Steiner, on the brief).

Lillian E. Brown, Deputy Attorney General, argued the cause for respondent (Fred DeVesa, Acting Attorney General, attorney; Joseph L. Yannotti, Assistant Attorney General, of counsel; Ms. Brown, on the brief).

Before Judges PETRELLA, CONLEY and VILLANUEVA.


PER CURIAM.

Plaintiffs appeal from the Tax Court's affirmance of a decision by defendant, the Director, New Jersey Department of the Treasury, Division of Taxation, denying their refund claims for New Jersey income taxes paid in 1986 on the gain realized by a New Jersey partnership in which the trusts were partners. The gain was attributable to the redemption of stock which the partnership held in a corporation which was...

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