First National Bank v. Commonwealth

OPINION

NIX, Chief Justice.

This appeal calls into question the constitutionality of Act 66 of 1983, the Single Exise Tax statute,1 promulgated by the General Assembly as a direct result of this Court’s decision in Dale National Bank v. Commonwealth, 502 Pa. 170, 465 A.2d 965 (1983). That decision struck down as violative of federal law the method of computing the Bank Shares Tax2 which required the taxpayer to include obligations of the United States owned by the taxpayer in its total assets for the purpose of calculating net worth. The Single Exise Tax, a one-time tax upon all taxpayers which…