Shirley McNAMARA, Secretary of the Department of Revenue and Taxation, State of Louisiana
v.
FIRST COMMERCE CORPORATION.
Court of Appeal of Louisiana, Fourth Circuit.https://leagle.com/images/logo.png
February 20, 1980.
On Rehearing January 13, 1981.
Attorney(s) appearing for the Case
Riley F. Boudreaux, Jr., Baton Rouge, for plaintiff-appellant.
Usry, Leefe & Weeks, New Orleans, for defendant-appellee.
McCollister, McCleary, Fazio, Mixon, Holliday & Hicks, D. Irvin Couvillion and James S. Holliday, Jr., Baton Rouge, for Great American Corp., amicus curiae.
Jones, Walker, Waechter, Poitevent, Carrere & Denegre, A. J. Waechter, Jr., Thomas C. Keller, Robert R. Casey and Rudolph R. Ramelli, New Orleans, for New Orleans Bancshares, Inc., amicus curiae.
Broadhurst, Brooks, Miller & Reed, William C. Broadhurst, Lafayette, for First Nat. Bank of Lafayette, amicus curiae.
Monroe & Lemann, Malcolm L. Monroe, John D. Wogan, Lynn M. Allain, New Orleans, for Whitney Holding Corp. and Jena Bancshares, Inc., amicus curiae.
Kantrow, Spaht, Weaver & Walter, Lee C. Kantrow, Baton Rouge, for Fidelity Nat. Financial Corp., amicus curiae.
Blossman & Hand, Jack A. Blossman, Covington, for First Nat. Corp., amicus curiae.
Landry & Landry, Jules F. Landry, Baton Rouge, for Feliciana Commerce Corp. and Capital Bancshares, Inc., amicus curiae.
Talley, Anthony, Hughes & Knight, Richard F. Knight, Bogalusa, for Parish Nat. Corp., amicus curiae.
Gaidry & LaRussa, Edward James Gaidry, Houma, for Terrebonne Corp., amicus curiae.
Before SAMUEL, LEMMON and GARRISON, JJ.
Court of Appeal of Louisiana, Fourth Circuit.
LEMMON, Judge.
First Commerce Corporation (FCC), a corporation which owns virtually all of the shares of First National Bank of Commerce in New Orleans, derives income from dividends on that national bank stock, as well as from other sources. In this action to collect Louisiana state income tax for 1973 and 1974 on FCC's income from its national bank shares, FCC resists payment on the grounds (1) that national bank dividends, although then taxable by a state, had...
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