Legal Opinion
TD Banknorth, N.A. v. Department of Taxes
Supreme Court of Vermont
Decided September 19, 2008No. 2007-127PublishedCited by 31 opinions
1Opinion of the CourtBurgess, J.
¶ 1. Taxpayer TD Banknorth, N.A., appeals the determination of the superior court affirming the Commissioner of Taxes’ assessment of bank franchise taxes, interest, and penalties against taxpayer for the 2000 and 2001 tax years. In 2000, taxpayer established three holding companies to manage some of the assets of its Vermont banks and to take advantage of favorable tax status for these entities. The superior court agreed with the Commissioner of Taxes that these holding companies were, essen tially, empty shells and were not engaged in substantial independent business activity beyond the…
2Cases cited24 opinions
- Gregory v. HelveringSupreme Court of the United States · 1935
- Moline Properties, Inc. v. CommissionerSupreme Court of the United States · 1943
- Frank Lyon Co. v. United StatesSupreme Court of the United States · 1978
- Rice's Toyota World, Inc. (Formerly Rice Auto Sales, Inc.) v. Commissioner of Internal RevenueCourt of Appeals for the Fourth Circuit · 1985
- Coltec Industries, Inc. v. United StatesCourt of Appeals for the Federal Circuit · 2006
19 more not listed; retrieve them via the Exa API.
3Cited by31 opinions
- David A. Gauthier v. Keurig Green Mountain, Inc. f/k/a Green Mountain Coffee Roasters, Inc.Supreme Court of Vermont · 2015
- In Re Soon KwonSupreme Court of Vermont · 2011
- Rutland Herald v. Vermont State Police and Office of the Attorney GeneralSupreme Court of Vermont · 2012
- State v. SullivanSupreme Court of Vermont · 2013
- Vermont National Telephone Company v. Department of TaxesSupreme Court of Vermont · 2020
26 more not listed; retrieve them via the Exa API.