Kimberton Co. v. Commonwealth

OPINION OF THE COURT

FLAHERTY, Justice.

The issue presented in this case, as in the companion case, Ski Roundtop v. Commonwealth of Pennsylvania, 520 Pa. 227, 553 A.2d 928, also decided this date, is whether the taxpayer, Kimberton Company, is entitled to the manufacturing exemption from the Capital Stock Tax Act of March 4, 1971, P.L. 6, No. 2, art. VI, § 62, 72 P.S. § 7602.

Kimberton filed timely tax reports for fiscal years 1982 and 1983, but the Department of Revenue disagreed with the taxpayer’s valuation of its assets and increased Kimber*240ton’s capital stock tax valuations. Kimberton…