Canteen Corp. v. Commonwealth

DISSENTING OPINION by

Judge McGINLEY.

I respectfully dissent to the majority’s conclusion that Canteen’s “gain from the fictional liquidation of assets deemed to occur under a federal tax election pursuant to 26 U.S.C. § 338(h)(10) is taxable by the Commonwealth” as non-business income.

The majority agrees with Canteen’s argument that “the gain from the fictional liquidation of assets should be treated the same as that from an actual liquidation, which is considered non-business income pursuant to our Supreme Court’s holding in Laurel Pipe Line Comp. v. Board of Finance and Revenue, 537 Pa. 205,…