Oregon Motor Club v. Department of Revenue

Edward H. Howell, Judge.

Plaintiffs appeal from the defendant’s assessment of additional corporation excise taxes for the tax years 1966, 1967 and 1968.

The facts have been stipulated. Plaintiff Mint Investment Corporation was incorporated in 1965 for the purpose of acquiring all the outstanding stock of plaintiff Oregon Motor Club and does not own any other assets or conduct any other business. The plaintiff Oregon Motor Club is a licensed motor club subject to the provisions of ORS 751.005 through ORS 751.145. The combined assets of both plaintiff corporations are insufficient to meet the…