Color-Ad Packaging, Inc. v. Commissioner of Revenue

COYNE, Justice.

The issue presented is whether the capital equipment tax reduction program of chapter 297A applies to future goods ordered prior to the statute’s effective date but not delivered or placed into service until after that date. The Commissioner of Revenue concluded it did not and denied respondent Color-Ad Packaging’s claim for a refund. Color-Ad appealed and the Tax Court allowed the refund, holding that under the program both the purchase and sale of future goods occurs at the time of delivery. We affirm.

The parties have submitted the case on stipulated facts. Respondent…