Ocean Spray Cranberries, Inc. v. State Tax Commission

Ocean Spray Cranberries, Inc. (Ocean), a Delaware corporation, is classified as a foreign manufacturing corporation taxable under G. L. c. 63, § 42B (as amended through St. 1937, c. 383, § 2). It qualifies as a farmers’ cooperative for Federal income tax purposes under the Internal Revenue Code as in effect during the taxable years *593ending on May 31, in 1961, 1962, and 1963.1 For each such year Ocean in its Massachusetts excise tax return under G. L. c. 63 computed no tax to be due so far as its excise was measured by its “net income” as defined, in G. L. c. 63, § 30, cl. 5. For each year the…