Acme Royalty Co. v. Director of Revenue

Introduction

RONNIE L. WHITE, Judge.

The Director of Revenue assessed Acme Royalty Company (“ARC” or “Acme”) and Brick Investment Company (“BIC”), collectively (“Appellants”), for income derived from the licensing of trademarks and trade names to a related corporation for the annual tax periods from 1992-96. ■ Similarly, the Director assessed Gore Enterprise Holdings, Inc. (“Gore”) for income derived from royalties received from a related company as a result of patents held by Gore for the tax periods from 1993-95. Acme, BIC and Gore each challenged the assessment.

The Administrative Hearing…