MATTER OF ISER v. NEW YORK STATE COMMISSIONER OF TAXATION AND FINANCE


256 A.D.2d 820 (1998)

681 N.Y.S.2d 866

In the Matter of WILLIAM ISER, Petitioner, v. NEW YORK STATE COMMISSIONER OF TAXATION AND FINANCE et al., Respondents.

Appellate Division of the Supreme Court of the State of New York, Third Department.

Decided December 17, 1998.


White, J.

The facts underlying this CPLR article 78 proceeding involving Tax Law former article 31-B1 are undisputed. In 1985 Timberline, a New York corporation in which petitioner had a 40% interest and Stephen Iser (hereinafter Iser) had a 60% interest, purchased two parcels of real property in the Town of Clarkstown, Rockland County, on which condominiums were situated. On February 24, 1987, Timberline was liquidated and the properties...

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