Legal Opinion
Pacific Telephone & Telegraph Co. v. Franchise Tax Board
California Supreme Court
Decided July 13, 1972No. S.F. 22852PublishedCited by 10 opinions
1Opinion of the Court
Opinion
PETERS, J.
Defendant Franchise Tax Board (board) appeals from a judgment in the sum of $1,324,591.96 plus interest in favor of The Pacific Telephone and Telegraph Company (Pacific) in this action for a refund of a portion of the franchise taxes paid to the State of California for the year 1960.
The problem presented relates to the interest expense deduction and more specifically the extent to which the interest paid by Pacific and its affiliated corporations should be reduced, in arriving at the interest expense deduction, by dividends received by one of the affiliated corporations from…
2Cases cited8 opinions
- Edison California Stores, Inc. v. McColganCalifornia Supreme Court · 1947
- Miller v. McColganCalifornia Supreme Court · 1941
- Southern Pacific Co. v. McColganCalifornia Court of Appeal · 1945
- Holly Sugar Corp. v. JohnsonCalifornia Supreme Court · 1941
- Great Western Financial Corp. v. Franchise Tax BoardCalifornia Supreme Court · 1971
3 more not listed; retrieve them via the Exa API.
3Cited by10 opinions
- Hunt-Wesson, Inc. v. Franchise Tax Board of CaliforniaSupreme Court of the United States · 2000
- Chemical Realty Corp. v. Taxation Division DirectorNew Jersey Tax Court · 1983
- Thomsen v. Western Electric Co.Court of Appeals for the Ninth Circuit · 1982
- Mobil Oil Corp. v. Commissioner of TaxesSupreme Court of Vermont · 1978
- Thomsens v. Western Electric Co.Court of Appeals for the Ninth Circuit · 1982
5 more not listed; retrieve them via the Exa API.