Birmingham Trust National Bank v. State

JONES, Justice.

This is an appeal from the Circuit Court of Montgomery County wherein a final decree was rendered denying appellant — Birmingham Trust National Bank — relief from payment of 1969 excise taxes alleged to be due to the appellee — the State of Alabama.

The facts are complex, but crucial, to an understanding of the issue involved. Appellant was organized as a national banking association on October 15, 1968, under the name Alabama National Bank (New Bank). Subsequently, on December 31, 1968, New Bank acquired all capital assets of Birmingham Trust National Bank 1 (Old Bank) by…