Genesco, Inc. v. Butler

This is a suit filed by complainant, Genesco, Inc., a Tennessee corporation, to recover Tennessee Excise Taxes and interest in the amount of $30,676.18 paid to the State under protest. The Commissioner of Revenue has appealed from the holding of the Chancellor that the complainant is entitled to the recovery sought.

The hearing below was on bill, answer, stipulations and exhibits thereto, and disclosed the following facts. In 1945, Genesco established a Retirement Plan for its employees. To implement this Plan, it set up an Employees Retirement Trust. Under the provisions of the Retirement…