Consolidated Rail Corp. v. Commonwealth

OPINION AND ORDER

COLINS, President Judge.

Consolidated Rail Corporation (Conrail) has filed exceptions1 from the January 12, 1996 opinion and order of this Court, affirming three orders of the Board of Finance and Revenue (Board) that determined Conrail’s capital stock tax liability for the periods ending April 2,1987, April 30,1987, and April 30, 1988, and that rejected Conrail’s method of calculating its average net income and net worth for those foregoing time periods.

For each time period, the capital stock value calculated by Conrail was not accepted by the Department of Revenue…