NAT. BANK OF ALASKA v. STATE, DEPT. OF REV.

No. 5482.

642 P.2d 811 (1982)

NATIONAL BANK OF ALASKA, a National Banking Association, and Alaska Bank of Commerce, a State Banking Association, Appellants, v. STATE of Alaska, DEPARTMENT OF REVENUE, Appellee.

Supreme Court of Alaska.

April 2, 1982.


Attorney(s) appearing for the Case

Susan Wright Mason, Atkinson, Conway, Bell & Gagnon, Anchorage, for appellants.

Wilson L. Condon, Atty. Gen., Juneau, Amy J. Stephson, Asst. Atty. Gen., Anchorage, for appellee.

Before RABINOWITZ, C.J., CONNOR, BURKE and MATTHEWS, JJ., and SERDAHELY, Superior Court Judge.


OPINION

SERDAHELY, Superior Court Judge.

The issue presented in this appeal is whether, for purposes of computing the business license fee or tax of banks under the Alaska Business License Act, AS 43.70.010-.120, interest received by the banks on bonds issued by the Alaska State Housing Authority ("ASHA") and the Alaska Housing Finance Corporation ("AHFC") should be considered as "net income" of the banks within the meaning of the Act. We hold that it should...

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