Cabot Corp. v. State Tax Commission

This case involves the net income measure of the 1960 corporation excise assessed under Gr. L. c. 63, § 32, with respect to Cahot Shops, Inc. (Shops), a Massachusetts corporation, which on September 30, 1960, was merged into Cabot Corporation (Cabot), a Delaware corporation. Cabot thereafter performed various procedural acts as successor to Shops by statutory merger.1 For purposes of the Massachusetts 1960 excise, Shops was a domestic manufacturing corporation (Gr. L. c. 63, § 38C, as amended by St. 1937, c. 383, § 1; later amended by St. 1964, c. 723, § 3).2

The situation before us in most…