The Massachusetts Supreme Judicial Court has upheld the appointment of a financial institution excise tax on First Marblehead Corp, in a case that was considered the first real test of the 2015 Supreme Court decision in Comptroller v. Wynne. This case also addressed the reach of the internal consistency test set forth in Wynne.
RK&O attorneys David Daniels and Margaret Meyers filed an amicus brief on behalf of Michael S. Knoll of the University of Pennsylvania Law School and Ruth Mason of the University of Virginia School of Law that was repeatedly cited by the Court at oral arguments.
Said Mr. Daniels: "This is a significant decision. It is the first to apply the Supreme Court’s decision in Wynne to a tax apportionment dispute. The decision also underscores that the internal consistency test remains an effective tool to identify tax schemes that discriminate against interstate commerce."
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