Dow Chemical Co. v. Department of Treasury

Petitioner, Dow Chemical Company, appeals as of right from the May 23, 1989, opinion and judgment of the Michigan Tax Tribu nal affirming the single business tax liability assessed against Dow by respondent, Michigan Department of Treasury. The liability arose out of the department’s finding that Dow’s transfer of its oil and gas division constituted a sale requiring recapture of a capital acquisition deduction pursuant to MCL 208.23(b); MSA 7.558(23)(b). We affirm.

The facts of this case are undisputed. Dow, a Delaware corporation with its principal place of business in Midland, Michigan, is…