Mass. High Court Again Rejects Tax Appeal Post-Wynne
Law360, Boston (August 12, 2016, 4:06 PM EDT) -- The Massachusetts Supreme Judicial Court on Friday again upheld the state's apportionment of a financial institution excise tax on a student loan company in the wake of the Comptroller v. Wynne Supreme Court decision.
In October, the U.S. Supreme Court vacated and remanded the commonwealth high court's first decision upholding the tax apportionment of student loan securities in The First Marblehead Corp. v. Commissioner of Revenue, saying that the Supreme Judicial Court needed to consider the internal consistency test articulated in Wynne.
After considering additional briefings and the Wynne decision — which came four months after the first Marblehead decision —...
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