Davis Mechanical Contractors, Inc. v. Wasson

Ness, Justice:

This appeal involves the recovery of corporate income taxes paid under protest. From a judgment in favor of the Respondent Davis Mechanical Contractors, Inc., the South Carolina Tax Commission has appealed.

The sole question before this Court is whether the taxpayer has “established a new business or industry in this State” which would warrant a net loss carryover deduction from gross income. Section 65-259(12), Code of Laws, 1962. The lower court held that the respondent had established a “new business” as contemplated by the statute. We disagree.

Davis Mechanical Contractors,…