Van Keuren & Son v. Martin
This text of 15 A.2d 278 (Van Keuren & Son v. Martin) is published on Counsel Stack Legal Research, covering New Jersey Tax Court primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Opinion
Petitioner seeks a reduction of its corporation franchise tax for the year 1939 from the sum of [582]*582$193.50 to $50, -upon the ground that its issued capital stock outstanding, upon which the tax is computed (R. S. 54:13-6; N. J. S. A. 54:13-6), was duly reduced by the company in 1934 from 193,500 shares to 50,000 shares. It appears, however, that no certificate of reduction was ever filed with the secretary of state, as is required by the General Corporation act. R. S. 14:11-2; N. J. S. A. 14:11-2. This is fatal to the present claim for credit on account of such reduction. Vulcan Wheels, Inc., v. State Tax Commissioner, New Jersey Tax Reports, 1912-1934, p. 691.
Assessment affirmed.
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Cite This Page — Counsel Stack
15 A.2d 278, 18 N.J. Misc. 581, 1940 N.J. Misc. LEXIS 98, Counsel Stack Legal Research, https://law.counselstack.com/opinion/van-keuren-son-v-martin-njtaxct-1940.