OVERNITE TRANSPORTATION COMPANY v. COMMISSIONER OF REVENUE

No. 99-P-1849.

54 Mass. App. Ct. 180 (2002)

OVERNITE TRANSPORTATION COMPANY v. COMMISSIONER OF REVENUE.

Court of Appeals of Massachusetts, Suffolk.

March 12, 2002.


Attorney(s) appearing for the Case

Robert M. Buchanan, Jr. (Kathleen King Parker with him) for the taxpayer.

Peter T. Wechsler, Assistant Attorney General, for Commissioner of Revenue.

Present: BECK, KAPLAN, & DUFFLY, JJ.


KAPLAN, J.

We conclude, in agreement with the Appellate Tax Board, that the appellant corporation, the taxpayer, did not sustain its burden of proving, for purposes of the corporate excise tax, that a promissory note it declared as a dividend in favor of its parent corporation was true indebtedness. The Appellate Tax Board held correctly that the appellant's claimed "interest" expenses could not be treated as deductions from gross income in respect to the net income...

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