Legal Opinion
Kewanee Industries, Inc. v. Reese
New Mexico Supreme Court
Decided January 13, 1993No. 20591, 20732PublishedCited by 13 opinions
1Opinion of the Court
OPINION
FRANCHINI, Justice.
This case involves two separate appeals: Case No. 20,732 by Kewanee Industries, Inc. (Kewanee), and Case No. 20,591 by Kewanee and Pittsburgh & Midway Coal Mining Co. (P & M). 1 At issue is the assessment of corporate and gross receipts taxes on rental income from the leases of two draglines. In Case No. 20,732, the dispositive issue is whether the rental income is treated as business or nonbusiness income. In Case No. 20,591, the issue is whether the rental income is exempted from the gross receipts tax because the transactions were “isolated or occasional” and thus…
2Cases cited23 opinions
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- Mobil Oil Corp. v. Commissioner of Taxes of Vt.Supreme Court of the United States · 1980
- Moorman Manufacturing Co. v. BairSupreme Court of the United States · 1978
- Allied-Signal, Inc. Ex Rel. Bendix Corp. v. Director, Division of TaxationSupreme Court of the United States · 1992
- ASARCO Inc. v. Idaho State Tax CommissionSupreme Court of the United States · 1982
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3Cited by13 opinions
- Polaroid Corp. v. OffermanSupreme Court of North Carolina · 1998
- The Kroger Co. v. the Dept. of RevenueAppellate Court of Illinois · 1996
- TPL, Inc. v. New Mexico Taxation & Revenue DepartmentNew Mexico Supreme Court · 2002
- Blackwood & Nichols Co. v. New Mexico Taxation & Revenue DepartmentNew Mexico Court of Appeals · 1998
- Rauscher, Pierce, Refsnes, Inc. v. Taxation & Revenue DepartmentNew Mexico Supreme Court · 2002
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