Greenville Steel Car Co. v. Commonwealth

Opinion by

Judge Crumlish, Jr.,

This appeal presents a narrow but important question of first impression under the Tax Reform Code of 1971, Act of May 4, 1971, P.L. 6, as amended, 72 P.S. §§7101 et seq. (Supp. 1974-1975). May a domestic corporation electing to compute and pay its capital stock-franchise tax as a foreign corporation apportion the actual valué of its capital stock if it does not have income from business activity which is taxable in another state for the taxable year ending December 31, 1971 ?

The parties have waived a jury trial and stipulated to the following facts which are…