Coffman v. State Tax Commission

This is an appeal by a taxpayer, the trustee of a Massachusetts business trust, from a decision of the Appellate Tax Board. G. L. c. 58A, § 13. Pursuant to G. L. c. 62, § 1 (e), as amended through St. 1963, c. 496, he had filed an agreement to pay taxes imposed by G. L. c. 62, §§ 1 (d) and 5. Thereafter, in 1966, he sold real estate *338pursuant to a plan of dissolution and distributed the proceeds in cancellation or redemption of transferable shares. The board held that the trust was obligated to pay a tax on the capital gain realized by its Massachusetts shareholders. We reverse.

We summarize…