Columbia National Bank of Washington v. District of Columbia

EDGERTON, Circuit Judge.

On November 30, 1946 petitioner sold its assets, ceased business, and went into voluntary liquidation. It afterwards paid, under protest, taxes measured by its gross earnings for years ending June 30, 1946 and June 30, 1947. It contends it is taxable on only 5/12 of its earnings for the first of those years and not taxable at all on its earnings for the second. But the statute provides without qualification: “Incorporated savings banks paying interest to their depositors shall, through their president or cashier, make report under oath to the board of personal-tax…