COWIN, J.
The issue in this case is whether the tax-free liquidation of all assets owned by a wholly-owned subsidiary into its parent corporation effected a "disposition" of those assets triggering the recapture of investment tax credits against the State corporate excise tax. The Appellate Tax Board (board) held that it did not, and the Commissioner of Revenue (commissioner) appealed. We affirm the board's decision.
Background. 1. The statutory...
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