GORDON v. STATE TAX COMMISSION


335 Mass. 431 (1957)

140 N.E.2d 453

LOUIS GORDON & others vs. STATE TAX COMMISSION.

Supreme Judicial Court of Massachusetts, Suffolk.

February 11, 1957.


Attorney(s) appearing for the Case

George B. Lourie, for the taxpayer.

Samuel W. Gaffer, Assistant Attorney General, for State tax commission.

Present: WILKINS, C.J., SPALDING, WILLIAMS, WHITTEMORE, & CUTTER, JJ.


CUTTER, J.

The taxpayers constitute a partnership (hereinafter called the appellant) engaged in the business of financing the purchase of automobiles under conditional sale arrangements. In each transaction, the appellant purchases from an automobile dealer a conditional sale contract and an instalment note signed by a purchaser, and then proceeds to collect the instalments. The conditional sale agreement shows on one line the cash purchase price, the finance charge...

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