Arsenal Credit Union v. Giles

RENDLEN, Judge.

This case involves the tax on tangible personal property of certain Missouri credit unions. The central issue is whether § 148.620.3, RSMo Cum.Supp.1984,1 (here*919inafter § 148.620.3) which imposes a net income-based corporate franchise tax on credit unions and savings and loan associations to the exclusion of other taxation, violates Mo.Const. art. X, § 4(a)2 and § 6 (1945 amended 1972 and 1982).3

Suit was brought by ten credit unions (hereinafter appellants) contesting personal property taxes collected by the City of St. Louis from the appellants aggregating $18,942.58 for the…