INTERN. PAPER CO. v. TAXATION DIV. DIR.


12 N.J. Tax 253 (1991)

INTERNATIONAL PAPER COMPANY, PLAINTIFF-RESPONDENT/CROSS-APPELLANT, v. DIRECTOR, DIVISION OF TAXATION, DEFENDANT-APPELLANT/CROSS-RESPONDENT.

Superior Court of New Jersey, Appellate Division.

Decided May 13, 1991.


Attorney(s) appearing for the Case

Herbert K. Glickman, Deputy Attorney General, argued the cause for appellant/cross-respondent (Robert J. Del Tufo, Attorney General, attorney; Michael R. Clancy, Assistant Attorney General, of counsel; Herbert K. Glickman, on the brief and reply brief).

Charles M. Costenbader argued the cause for respondent/cross-appellant (Stryker, Tams & Dill, attorneys; Charles M. Costenbader, of counsel; Charles H. Friedrich, on the brief and reply brief).

Before PRESSLER, DEIGHAN and ARNOLD M. STEIN, JJ.


PER CURIAM.

Plaintiff International Paper Company (IP) brought this action in the Tax Court challenging the denial by defendant Director, Division of Taxation of its claims for refunds of corporation business tax paid by it for tax years 1981 and 1982. More particularly, it challenged the tax imposed on the capital gain and interest income it realized on the sale of its stock in Canadian International Paper Company (CIP) and the tax imposed on the capital gain it...

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