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SHANGRI-LA, INC. v. STATE

No. 6624.

113 N.H. 440 (1973)

SHANGRI-LA, INC. v. STATE OF NEW HAMPSHIRE

Supreme Court of New Hampshire.

August 27, 1973.

Attorney(s) appearing for the Case

Warren B. Rudman, attorney general, and Charles A. Cleaveland, attorney (Mr. Cleaveland orally), for the New Hampshire Tax Commission.

Upton, Sanders & Upton (Frederic K. Upton orally) for Shangri-La, Inc.

GRIMES, J.

This appeal questions the tax commission's determination that for the purpose of the Business Profits Tax (RSA ch. 77-A) the taxpayer's gain on the sale of its business property should be computed on the basis of its federal income tax return (cost less accumulated depreciation) rather than the fair market value on the effective date of the tax statute (January 1, 1970). The taxpayer, Shangri-La, contends not only...

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