(Download) "Matter Forbes v. Department Finance City New York" by Court of Appeals of New York " eBook PDF Kindle ePub Free

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Title: Matter Forbes v. Department Finance City New York
Author : Court of Appeals of New York
Release Date : January 19, 1985
Genre: Law,Books,Professional & Technical,
Pages : * pages
Size : 70 KB

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[66 N.Y.2d 243 Page 245] Opinion OF THE COURT By rendering investments in obligations of the Federal Government less attractive than other investments, in the calculation of taxes due under New York City's General Corporation Tax, the City tax discriminates against Federal obligations within the meaning of the Federal statute permitting only nondiscriminatory franchise taxes to be levied on United States obligations (31 USC former ? 742 [renum ? 3124]), and therefore violates the supremacy clause of the United States Constitution (US Const, art VI, cl 2).