274 A.D. 1009 | N.Y. App. Div. | 1948
Lead Opinion
Memorandum by the Court. This is an appeal by an employer from a decision of the Unemployment Insurance Appeal Board which affirmed the decision of an unemployment insurance referee sustaining the initial determination of the Industrial Commissioner to the effect that appellant is not qualified to receive an unemployment insurance tax credit for the year 1946. The only question present is whether appellant is a “ qualified employer ” as defined by subdivision 1 of section 577 of the Unemployment Insurance Law (Labor Law, art. 18). For some time prior to April, 1946, Albert O. Hinzmann and Anton Waldmann, as copartners, were engaged in business as joiners and woodworkers. In addition to that venture the partners commencing November, 1944, and continuing until April, 1946, engaged in the business of repairing ships. In April, 1946, the partners determined to incorporate their business
Decision of the Unemployment Insurance Appeal Board affirmed, with costs.
Concurrence Opinion
(concurring). Prior to the formation of and transfer to the corporation, the total assets of the copartnership were $523,117.89; the total liabilities $475,565.22, leaving a net of $47,552.67. The woodworking corporation received net assets of about $35,000; the marine corporation $12,000. There is a contention by the appellant that the marine branch business was bankrupt, however there was proof from which the referee could find the figures earlier stated.
I concur in the result reached because $35,000 is not substantially all of $47,000.
Heffernan, Brewster, Foster and Russell, JJ., concur in Memorandum by the Court; Hill, P. J., concurs in a separate memorandum.
Decision of the Unemployment Insurance Appeal Board affirmed, with costs. [See 275 App. Div. 730.]