On October 30, 2008, the New Jersey Supreme Court granted the motions for leave to file interlocutory appeals brought by Federated Brands, Inc., Whirlpool Properties, Inc., and Pfizer, Inc. in their respective challenges to the New Jersey throwout. The New Jersey Supreme Court agreed with us that the issue of whether the throwout is facially unconstitutional should be heard on appeal now, rather than at the end of each case.
The New Jersey throwout is the State’s removal from the denominator of the receipts fraction those receipts that are not subject to tax in another State.
In granting the appeal motions, the New Jersey Supreme Court directed the New Jersey Superior Court, Appellate Division, New Jersey’s intermediate appellate court, to hear the companies’ appeals from the Tax Court’s consolidated decision. Shortly, we will confirm with the Appellate Division how (including the timetable by which) it would like us to proceed.
A copy of the notice that the motions have been granted is attached for your ease of reference.