State Department of Assessments & Taxation v. Greyhound Computer Corp.

Appellee Xerox Corporation manufactures duplicating equipment and appellees Xerox Data Systems, Inc. and Sperry Rand Corporation manufacture data processing equipment; each manufacturer leases the equipment to its customers. Appellees LMC Leasing Corporation and Greyhound Computer Corporation are “non-manufacturers” who purchase and thereafter lease data processing equipment to their customers. For a number of years prior to the tax year 1970, the State Department of Assessments and Taxation (the Department) had assessed the equipment of the appellees on the basis of the lesser of its “cost…