Section 15 A Piece of History?Intangible Tax Refund Case

• Library: Tax Law 2009

In Community Federal Savings & Loan Ass’n v. Director of Revenue, 752 S.W.2d 794 (Mo. banc 1988), the Supreme Court of Missouri held that § 136.035, now RSMo Supp. 2007, authorizes the refund of taxes previously paid by savings and loan associations under the prior intangible tax law, § 148.480, RSMo 1978, which was declared unconstitutional in Jefferson Savings & Loan Ass’n v. Goldberg, 626 S.W.2d 640 (Mo. banc 1982). The Court, however, did not specify the source from which refunds would be made, nor did it decide whether associations are entitled to interest on the refund claims.

In October 1988, the Director of Revenue...