McKesson & Robbins, Inc. v. Walsh

This case involves the construction and application to the facts of the tax on income of corporations prescribed in General Statutes, Sup. 1941, § 177f. The portion of the statute of immediate concern here reads as follows: “(b) when [net income is] derived from the manufacture, sale or use of tangible personal or real property, the portion thereof attributable to business within the state shall be determined by means of an allocation fraction to be computed as the simple arithmetical mean of three fractions. The first of these fractions shall represent that part of the average monthly net…