UNITED STATES SUPREME COURT DECISIONS ON-LINE
WERNER MACHINE CO., INC. V. DIRECTOR OF TAXATION, 350 U. S. 492 (1956)
350 U. S. 492U.S. Supreme Court
Werner Machine Co., Inc. v. Director of Taxation, 350 U.S. 492 (1956)
Werner Machine Co., Inc. v. Director of Taxation
No. 63
Argued March 5-6, 1956
Decided March 26, 1956
350 U.S. 492
Syllabus
As applied to this New Jersey corporation, the New Jersey corporation tax here involved, measured by the corporation's "net worth," is a tax on the corporate franchise, does not discriminate against federal obligations, and is valid despite the inclusion of federal bonds in the determination of net worth. Pp. 350 U. S. 492-494.
17 N.J. 121,110 A.2d 89, affirmed.