Pa. Justices Say State Bank Tax Provision Constitutional

Law360, New York (January 2, 2014, 7:27 PM EST) -- The Pennsylvania Supreme Court ruled last week that provisions of the state's banking tax that could result in an institution formed through the merger of two in-state banks paying more than one that combines with an out-of-state bank do not violate the state's constitution.

In a 4-2 decision, the majority said Pennsylvania’s bank shares tax does not violate the constitution's uniformity clause. Lebanon Valley Farmers Bank, which brought the appeal, argued that the tax was not applied uniformly in instances where a Pennsylvania bank merged with...
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