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LANCO v. DIRECTOR, DIV. OF TAXATION

22 N.J. Tax 636 (2005)

LANCO, INC., A DELAWARE CORPORATION, PLAINTIFF-RESPONDENT, v. DIRECTOR, DIVISION OF TAXATION, DEFENDANT-APPELLANT.

Superior Court of New Jersey, Appellate Division.

Decided August 24, 2005.

Attorney(s) appearing for the Case

Patrick DeAlmeida, Deputy Attorney General, argued the cause for appellant (Peter C. Harvey, Attorney General, attorney; Miechael J. Haas, Assistant Attorney General, of counsel; Mr. DeAlmeida, on the brief).

Paul H. Frankel, New York City, argued the cause for respondent (McCarter & English and Morrison & Foerster of the New York bar, attorneys; Hollis L. Hyans, Craig B. Fields, Amy F. Nogid, Charles M. Costenbader and Mr. Frankel, on the brief).

Stradley Ronon Stevens & Young, Cherry Hill, attorneys for amicus curiae The Investment Company Institute (Stephen B. Nolan, on the brief).

Rene Y. Blocker, Deputy Director, attorney for amicus curiae Multistate Tax Commission (Mr. Blocker and Sheldon H. Laskin, Director Nexus Program, on the brief).

Before Judges STERN, WECKER and GRAVES.

The opinion of the court was delivered by

STERN, P.J.A.D.

This case presents the important question, as the Tax Court stated it, of "whether New Jersey may constitutionally subject a foreign corporation to the Corporation Business Tax (N.J.S.A. 54:10A-1 et seq., `the CBT'), where the corporation has no physical presence in the state and derives income from a New Jersey source only pursuant to a license...

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