[Download] "Don Siegelman v. Chase Manhattan Bank" by Supreme Court of Alabama * eBook PDF Kindle ePub Free
eBook details
- Title: Don Siegelman v. Chase Manhattan Bank
- Author : Supreme Court of Alabama
- Release Date : January 11, 1991
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 74 KB
Description
This case presents the question of whether the financial institution excise tax, levied pursuant to Ala. Code 1975, §
40-16-1 et seq., applies to the credit card business conducted by national banks located outside Alabama with Alabama residents.
The trial court, relying on this Court's decision in Ex parte Dixie Tool & Die Co., 537 So. 2d 923 (Ala. 1988), held
that because Alabama's financial institution excise tax was enacted at a time when the State was prohibited by federal law
from taxing out-of-state national banks and the legislature was aware of this federal law when enacting the tax, the tax could
not be levied on these banks. We affirm. FACTS