Independent Southern Bancshares, Inc. v. Huddleston

OPINION

TODD, Presiding Judge.

The captioned plaintiffs have appealed from a Rule 54.02 partial final non-jury judgment of the Trial Court dismissing plaintiffs’ suit for refund of excess corporate franchise taxes paid for fiscal year 1991. Issues for review are presented as follows:

Whether Tennessee Code Annotated, section 674-805(b)(2)(C)(ii), requires members of a unitary group to reduce their net operating loss carried forward from prior years, when to do so:(1)is directly contrary to the legislative intent and rationale behind the unitary group concept;(2) is directly contrary to the…