BOSTON STOCK EXCH. v. STATE TAX COMM'N


42 N.Y.2d 1008 (1977)

Boston Stock Exchange et al., Appellants, v. State Tax Commission et al., Respondents.

Court of Appeals of the State of New York.

Decided September 13, 1977.


Attorney(s) appearing for the Case

Roger Pascal of the Illinois Bar, admitted pro hac vice, Milton H. Cohen, Alton B. Harris and Ann Rae Heitland for appellants.

Louis J. Lefkowitz, Attorney-General (Robert W. Bush and Ruth Kessler Toch of counsel), for respondents.

Concur: Chief Judge BREITEL and Judges JASEN, GABRIELLI, JONES, WACHTLER, FUCHSBERG and COOKE.


Upon reargument, order reversed, with costs, and the case remitted to the Supreme Court, New York County, for the entry of judgment in favor of the plaintiffs in accordance with the following memorandum: The Supreme Court of the United States has held that the rates of tax imposed by section 270-a of the Tax Law, in distinguishing between interstate and intrastate transactions, are unconstitutional. In implementing that determination, we now hold that the savings clause set...

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