Legal Opinion
Allfirst Bank v. Commonwealth
Supreme Court of Pennsylvania
Decided October 17, 2007No. 82 MAP 2006, 83 MAP 2006PublishedCited by 8 opinions
1Opinion of the Court
OPINION
Justice SAYLOR.
These direct appeals involve the issue of whether Pennsylvania’s bank and trust company shares tax is a tax levied against the financial institution itself, or a personal property tax imposed on its shareholders.
Banking institutions in Pennsylvania are exempt from both the capital stock/franchise tax and the corporate net income tax. See 72 P.S. §§ 7402(c), 7602(i). 1 However, under Article VII of the Tax Reform Code of 1971, 2 banks operating in the Commonwealth are subject to a bank shares tax. See generally 72 P.S. §§ 7701-7706 (setting forth Article VII). 3 The…
2Cases cited24 opinions
- M'culloch v. State of MarylandSupreme Court of the United States · 1819
- Wisconsin v. J. C. Penney Co.Supreme Court of the United States · 1941
- Weston and Others v. the City Council of CharlestonSupreme Court of the United States · 1829
- Lawrence v. State Tax Comm'n of Miss.Supreme Court of the United States · 1932
- Van Allen v. AssessorsSupreme Court of the United States · 1866
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3Cited by8 opinions
- Bowling v. Office of Open RecordsCommonwealth Court of Pennsylvania · 2010
- Lebanon Valley Farmers Bank v. CommonwealthSupreme Court of Pennsylvania · 2013
- Glatfelter Pulpwood Co. v. CommonwealthSupreme Court of Pennsylvania · 2013
- Becker v. WishardSuperior Court of Pennsylvania · 2019
- G. Fish v. Twp of Lower Merion, Aplt.Supreme Court of Pennsylvania · 2015
3 more not listed; retrieve them via the Exa API.