RILEY v. STATE

No. 118-74.

329 A.2d 631 (1974)

Nelson S. RILEY, III, et al. v. STATE of Vermont,

Supreme Court of Vermont, Washington.

December 3, 1974.


Attorney(s) appearing for the Case

McKee, Clewley & FitzPatrick, Montpelier, for plaintiffs.

Kimberly B. Cheney, Atty. Gen., and Georgiana O. Miranda, Asst. Atty. Gen., for defendant.

Before BARNEY, C. J., SMITH, KEYSER and DALEY, JJ., and SHANGRAW, C. J. (Ret.), assigned.


BARNEY, Chief Justice.

This is a tax case, relating to the tax on gains from sale or exchange of land under chapter 236 of Title 32, Vermont Statutes Annotated. It involves some land transfers made just prior to the effective date of the gains tax. The State tax department reviewed the transactions and refused to recognize as bona fide transactions certain intermediate transfers between the Rileys and the corporation, Ocean Sailing, Inc. At this point, the plaintiffs...

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