05/26/1998
TP was assessed gross receipts tax upon commissions received as a commodities futures broker. Taxpayer argued that imposition of tax was barred because commodities futures trades were transactions in interstate commerce and because the comprehensive federal regulation of commodities futures trading preempted imposition of state tax. Held that imposition of tax was not prohibited under the Commerce Clause nor was tax preempted by federal regulation of commodities futures trading. Protest denied.