John H. Sellen Construction Co. v. Department of Revenue

Appellant, Department of Revenue, appeals a superior court judgment disallowing certain business and occupation tax assessments.

Respondent, John Sellen Construction Company, is a Washington general partnership and a general contractor. Respondent invested a small percentage of its gross revenues in short term investments such as time certificates, commercial paper, and repurchase agreements. In a 4-year period, these investments realized income amounting to approximately one-half of 1 percent of its gross income. Respondent, Olympia Brewing Company, also invested a portion of its gross income…