RB Alden Corp. v. Commonwealth

OPINION BY Senior Judge DAN PELLEGRINI.

This is a petition for review from an order of the Board of Finance and Revenue (Board) in which RB Alden Corporation (Taxpayer) claims that it owes no Pennsylvania corporate income tax on a $29.9 million capital gain profit resulting from the sale of part of a partnership interest. Taxpayer makes that claim on a number of alternative bases contending that:

• gain from a sale of the partnership interest is "nonbusiness income" under Section 401(3)2.(a)(1)(D) of the Tax Reform Code of 1971 (Code), 1 not "business income" under Section 401(3)2.(a)(1)(A) of…