S. D. Richman Sons, Inc. v. Commonwealth, Board of Finance & Revenue

Opinion by

Judge MacPhail,

The only issue raised on this appeal is whether the amendment adding paragraph number 14 to Section 602(c) of the Tax Reform. Code of 19711 (Code), 72 P.S. §7602(c), is to be applied prospectively or retroactively from its effective date, July 20, 1974.2 For the reasons which follow, we hold that it is to be applied prospectively only.

The facts, as stipulated by the parties, may be stated briefly. S. D. Richman Sons, Inc. (Petitioner) is a Pennsylvania corporation engaged in the business of salvaging, recycling, and reprocessing various metal products. Petitioner…