Dana Lease Finance Corp. v. Commissioner of Revenue

We affirm a decision of the Appellate Tax Board holding that the taxpayer herein exceeded the time limit prescribed by statute for filing its applications for abatement of the net worth measure of its corporate excise and that, accordingly, the Commissioner of Revenue (commissioner) correctly denied the applications.

The taxpayer, Dana Lease Finance Corp. (DLF), classified as a “foreign,” “intangible property” corporation, filed returns reporting one component of its corporate excise, the net worth measure, for the tax years 1989, 1990, and 1991, on the dates, respectively, September 15 of…