By Abraham Gross (May 8, 2020, 7:02 PM EDT) -- A Washington state tax on large financial institutions unconstitutionally burdens interstate commerce by targeting large out-of-state banks with a higher business and occupation tax rate, a state judge ruled Friday.
Judge Marshall Ferguson of King County Superior Court in Washington state, in November. On Friday, after a virtual hearing, Judge Ferguson issued an order that struck down a tax on financial institutions, saying it discriminated against out-of-state banks. (AP) In an order issued from the bench after a virtual hearing, King County Superior Court Judge Marshall Ferguson struck down the tax, saying that while the state law that authorized the tax did not facially discriminate...
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