Delaware Supreme Court Upholds Franchise Tax
In Lehman Brothers Bank FSB v. State Bank Commissioner, (Del. Supr., Nov. 7, 2007), read opinion here, the Delaware Supreme Court, in a 43-page decision (that includes a thorough analysis of the factual and legal issues that I will not be discussing in this short blurb), upheld the Delaware franchise tax imposed on banks. Its analysis included a discussion of the Commerce Clause and Due Process Clause of the U.S. Constitution. This is a very important decision on many levels and I hope to supplement this short summary in the near future.
