In re the Appeal of Federal Deposit Insurance

The opinion of the court was delivered by

Allegrucci, J.:

This is an appeal by the Federal Deposit Insurance Corporation (FDIC) from an order of the Board of Tax Appeals (BOTA) affirming the decision of the Director of Taxation (Director) of the Kansas Department of Revenue (Department) denying FDIC’s claim for a refund of privilege taxes based upon a redetermination of the Farmers and Merchants State Bank’s (Bank) taxable income for the years 1975 through 1984 by carrying back its 1985 net operating loss (NOL). The Department denied *753the refund because FDIC’s appointment as receiver for the…