Prudential V. Wrynn: A Chance To Review Retaliatory Tax
July 2, 2012, 12:58 PM EDT
Law360, New York (July 2, 2012, 12:58 PM EDT) -- In Prudential Insurance Co. of America v. Wrynn, No. 102267- 2011, 2012 N.Y. Slip Op. 22111 (N.Y. Sup. Ct., Apr. 16, 2012), the Supreme Court, New York County, denied Prudential’s claim against the superintendent of the New York State Department of Insurance for a refund and credit against retaliatory tax.
Prudential claimed that an additional payment of the Article 33 franchise tax on insurance companies entitled it to a refund and credit against retaliatory tax arising in prior years.