Southern Soya Corp. v. Wasson

Littlejohn, Justice.

This action was brought to recover income tax paid under protest to the South Carolina Tax Commission. The tax was paid after the Commission held that the taxpayer was not entitled to a claimed deduction referred to in the statute.

The Commission demurred to the complaint on the ground that it appeared on the face thereof that the taxpayer had not brought itself within the terms of the statute allowing the deduction. The statute allows one operating a new business facility to deduct a carry-over loss provided it elects to report on a separate accounting basis and shows such…