SCULLY v. DIR., DIV. OF TAXATION


19 N.J. Tax 553 (2001)

MICHAEL AND PATRICIA SCULLY, PLAINTIFFS, v. DIRECTOR, DIVISION OF TAXATION, DEFENDANT. JAMES SCULLY, PLAINTIFF, v. DIRECTOR, DIVISION OF TAXATION, DEFENDANT.

Tax Court of New Jersey.

September 21, 2001.


Attorney(s) appearing for the Case

Lawrence J. Arem, of the Pennsylvania Bar, admitted pro hac vice, for plaintiffs (Klehr, Harrison, Harvey, Branzburg & Ellers, LLP, attorneys).

Marlene G. Brown, for defendant (John J. Farmer, Jr., Attorney General of New Jersey, attorney).


KUSKIN, J.T.C.

Plaintiffs Michael Scully and James Scully1 are owners of partnership interests in Port-O-Call Associates, L.P., a New Jersey limited partnership (the "Partnership"). They appeal assessments of Gross Income Tax imposed on them by defendant Director for tax year 1992 with respect to income arising from the discharge of indebtedness owed by the partnership. The Director asserts that the Partnership realized the discharge of...

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