CAO Holdings, Inc. v. Trost

OPINION

WILLIAM C. KOCH, JR., J.,

delivered the opinion of the Court,

in which CORNELIA A. CLARK, C.J., JANICE M. HOLDER, J., and DAVID H. WELLES, SP. J., joined.

This appeal involves a corporation’s liability for the payment of use tax following its purchase of a business jet. After it received an assessment from the Tennessee Department of Revenue for over $700,000, the corporation paid the tax and filed suit in the Chancery Court for Davidson County seeking a refund on the ground that it qualified for the sale for resale exemption under Tenn.Code Ann. § 67-6-102(a)(28)(A) (Supp.2004) because…