Iowa National Industrial Loan Co. v. Iowa State Department of Revenue

LeGRAND, Justice.

In this appeal we are asked to construe § 422.37(1), The Code, 1966, as it affects plaintiff’s right to file a consolidated corporate Iowa income tax return for the year 1968.

After plaintiff had filed such a return, the Director of Revenue (hereafter called Director) ordered it to file a separate return. On appeal to the district court, the ruling of the Director was set aside. The Department of Revenue (hereafter called Department) appeals from that ruling. We affirm the trial court.

Before discussing the issues involved, it is necessary that we give the background facts…