STATE TAX COMMISSION v. PoGM CO.


369 Mass. 611 (1976)

341 N.E.2d 285

STATE TAX COMMISSION vs. THE PoGM Co.

Supreme Judicial Court of Massachusetts, Suffolk.

January 29, 1976.


Attorney(s) appearing for the Case

Paula R. Rosen, Assistant Attorney General, for the State Tax Commission.

David G. Hanrahan & Arthur G. Flaherty, for the taxpayer, submitted a brief.

Present: HENNESSEY, C.J., REARDON, BRAUCHER, KAPLAN, & WILKINS, JJ.


WILKINS, J.

The State Tax Commission appeals from a decision of the Appellate Tax Board which concluded that the taxpayer, The PoGM Co. (PoGM), was entitled to the tax treatment accorded by G.L.c. 63, § 38B, as appearing in St. 1966, c. 698, § 60, to a corporation (herein called a security corporation) "which is engaged exclusively in buying, selling, dealing in, or holding securities on its own behalf and not as a broker," provided that the corporation...

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