Trans-Lux Corp. v. Meehan

I

Introduction

Blue, J.

Business is no respecter of state boundaries, but the tax law sometimes is. In this appeal, I am called upon to determine the tax consequences of a sale of corporate stock that occurred in the context of an intricate multistate corporate structure. In making this determination, I am called upon to construe two different Connecticut statutes.

This is an appeal, pursuant to General Statutes § 12-237, of a revised assessment by the commissioner of revenue services attributes the gain on a $14 million transaction in 1986 to a parent corporation.

It is conceded that the appeal…