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Mobil Oil Corp. v. Director

New Jersey Superior Court, Appellate Division


Decided: March 4, 1992.

MOBIL OIL CORPORATION, PLAINTIFF-RESPONDENT,
v.
DIRECTOR, DIVISION OF TAXATION, DEFENDANT-APPELLANT.

On appeal from Tax Court of New Jersey.

Before Judges Pressler, Shebell and D'Annunzio.

Per Curiam

Per Curiam

The Director, Division of Taxation, appeals from a Tax Court judgment excluding from income apportionable to New Jersey for calculation of the corporation business tax, a capital gain earned by Mobil Oil Corporation on the sale of its shares in the Belridge Oil Company. We now affirm substantially for the reasons expressed by Judge Lasser in his opinion. Mobil Oil Corporation v. Director, Division of Taxation, 11 N.J. Tax 344 (Tax Ct. 1990).

Affirmed.

Disposition

Affirmed.

19920304


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