Boston Safe Deposit & Trust Co. v. Commissioner of Revenue

The taxpayer, Boston Safe Deposit & Trust Company (bank), appeals from a decision of the Appellate Tax Board (board) upholding a ruling by the Commissioner of Revenue (commissioner). The commissioner had denied the bank’s application for an abatement of its Massachusetts excise tax for 1983.

We summarize the stipulated facts presented to the board. In 1983, the bank was subject to an excise tax imposed on banking associations pursuant to G. L. c. 63, §§ 1 and 2 (1984 ed.). Under the terms of c. 63, each banking association must pay to the Commonwealth an excise tax equal to *19612.54% of the bank’s…