For the prosecutor, Pitney, Hardin & Ward (Shelton Pitney).
For the defendants, W. Eddy Heath, Frederick C. Vonhoff, Edward R. McGlynn and Joseph Weintraub.
Before Justices Bodine, Heher and Perskie.
BODINE, J. This writ brings before us for review a judgment of the State Board of Tax Appeals dated June 2d, 1942, fixing an assessment against the prosecutor's intangibles in Hillsborough Township, Somerset County of $11,604,815.44, for the tax year 1939. The case was before the State Board on an appeal from a determination of the Somerset County Board of Taxation fixing an assessment of $8,143,159, and an amended assessment of $21,953,125. These assessments had been made on November 18th, 1940, and November 22d, 1940, respectively, under circumstances to be hereafter related.
The jurisdiction of the County Board is challenged as it may well be, even though an appeal was taken to the State Board. Further, if the County Board lacked jurisdiction on the merits so did the State Board. Oradell v. State Board of Tax Appeals, 125 N.J.L. 37.
The State Board's judgment contained a finding that on the tax date, October 1st, 1938, the prosecutor possessed the following intangible personal property of the values stated:
Cash in banks $6,364,430.58
Notes, accounts and interest receivable 5,005,460.21
Stocks in foreign companies 5,834,705.08
Bonds of other companies 83,079.00
Bonds of North Carolina and of municipali-
The prosecutor is a New Jersey corporation and on the tax day in 1938 had its chief office in Hillsborough Township, Somerset County. Its charter prohibits any activities in this state. Its only property in this state are the transfer and stock books which must be kept here. All of the intangible property was secured and used in the course of business in the states mentioned. The transmission lines and plant are operated from a main office in Charlotte, North Carolina, and all its property is taxed under the Machinery Act of ...