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EDISON BANK v. MAYER
February 27, 1962
The EDISON BANK, Plaintiff,
Joseph J. MAYER, District Director of Internal Revenue Service, etc., Defendant, and United States of America, Intervenor
The opinion of the court was delivered by: WORTENDYKE
The jurisdiction of this Court under 28 U.S.C. § 1340 is invoked by the plaintiff for a declaration that it has a lien prior to that of the United States of America for unpaid Internal Revenue taxes upon the proceeds of sale of certain motor vehicles covered by a chattel mortgage given to the plaintiff by the taxpayer to secure a loan from the plaintiff Bank.
The Court finds the following stipulated facts:
Plaintiff (Bank), is a banking institution incorporated under the laws of the State of New Jersey. On March 5, 1959 the Bank loaned to Walter Rasmussen, individually and trading as Rasmussen and Sons, the sum of $ 10,000, as security for the repayment of which the borrower executed and delivered to the Bank a chattel mortgage of that date, covering three certain motor vehicles, described in the schedule annexed to the mortgage. Possession of the mortgaged chattels was retained by the mortgagor. The mortgage was duly recorded in the office of the Clerk of Middlesex County, in which both Bank and borrower are located, on March 6, 1959. A record of the mortgage transaction was also made upon the certificates of ownership of the mortgaged vehicles as required by N.J.S. 39:10-11, subd. C, N.J.S.A.
Assessments of Federal Income and Federal Withholding taxes against the chattel mortgagor were duly made by the District Director of Internal Revenue at Newark, New Jersey, and notice of said assessments, stating the amounts and demanding payment thereof was given to the taxpayer and filed with the Register of Deeds for Middlesex County, New Jersey. The particulars of said assessments, including the dates on which liens for said Federal Taxes were filed, are as follows:the District Director of Internal Revenue at Newark, New Jersey, and notice of said assessments, stating the amounts and demanding payment thereof was given to the taxpayer and filed with the Register of Deeds for Middlesex County, New Jersey. The particulars of said assessments, including the dates on which liens for said Federal Taxes were filed, are as follows:
Date of Filing
Balance Date of As- Date of Notice of
Type of Tax Tax Period Due sessment Demand Lien
Income 1956 $5,582.00 3/27/59 4/ 3/59 7/31/59
Withholding 3Q 1959 6,429.21 12/18/59 12/18/59 4/14/60
Income 1957 7,511.76 12/24/59 12/24/59 5/17/60
Income 1957 235.22 3/25/60 3/25/60 6/27/60
Withholding 4Q 1959 106.36 6/24/60 6/24/60 None
Withholding 1Q 1960 36.35 9/16/60 9/16/60 None
Withholding 1Q 1960 2,205.47 6/ 3/60 7/ 1/60 9/20/60
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