Legal Opinion
Newton Building Co. v. Commissioner of Corporations & Taxation
Massachusetts Supreme Judicial Court
Decided February 28, 1934PublishedCited by 7 opinions
1Opinion of the CourtLummus, J.
By St. 1929, c. 359, § 2, and St. 1923, c. 424, § 2 (G. L. [Ter. Ed.] c. 63, §§ 32, 32A), a domestic business corporation was required to pay an excise tax based upon the amount of its “corporate excess.” Those statutes were in force during 1929 and 1930, the years for which the taxes in question were assessed. “Corporate excess” of a domestic corporation was, and still is, defined as “the fair value of its capital stock on the last day of the taxable year . . . less the value of the following on such date,” and there follow certain allowable deductions. St. 1927, c. 258, § 1 (G. L. [Ter.…
2Cases cited11 opinions
- Donovan v. City of HaverhillMassachusetts Supreme Judicial Court · 1923
- Hamilton Manufacturing Co. v. City of LowellMassachusetts Supreme Judicial Court · 1931
- Commissioner of Corporations & Taxation v. J. G. McCrory Co.Massachusetts Supreme Judicial Court · 1932
- McGee v. City of SalemMassachusetts Supreme Judicial Court · 1889
- New England & Savannah Steamship Co. v. CommonwealthMassachusetts Supreme Judicial Court · 1907
6 more not listed; retrieve them via the Exa API.
3Cited by7 opinions
- Squantum Gardens, Inc. v. Assessors of QuincyMassachusetts Supreme Judicial Court · 1957
- Crocker-McElwain Co. v. Assessors of HolyokeMassachusetts Supreme Judicial Court · 1937
- Dehydrating Process Co. of Gloucester, Inc. v. City of GloucesterMassachusetts Supreme Judicial Court · 1956
- Paine v. Assessors of WestonMassachusetts Supreme Judicial Court · 1937
- Friedman v. S. S. Kresge Co.Massachusetts Supreme Judicial Court · 1935
2 more not listed; retrieve them via the Exa API.