Northeast Petroleum Corp. v. Commissioner of Revenue

Northeast Petroleum Corporation (taxpayer) appeals from a decision by the Appellate Tax Board (board) denying an abatement of a tax on the distribution received by the taxpayer upon the liquidation of its fifty per cent owned subsidiary, Energy Corporation of Louisiana (Energy). The board upheld a refusal by the Commissioner of Revenue (Commissioner) to abate the taxpayer’s corporate excise for the fiscal year ending June 30, 1977. 1 We reverse the decision of the board and remand for further proceedings in light of our opinion in Commissioner of Revenues. Shafner, 392 Mass. 256 (1984).

We…