Easco, Inc. v. Cardwell

*914OPINION

REID, Chief Justice.

This case presents an appeal from the judgment of the chancery court denying the claim of the appellant Easco, Inc. for a refund of corporate excise taxes and interest paid under protest. The record supports the judgment of the trial court.

Easco seeks to recover corporate excise taxes paid pursuant to an assessment by the Department of Revenue on gains from the sale of assets in 1986. See T.C.A. § 67-4-801 et seq. The determinative issue is whether the assets were sold by Easco and the proceeds distributed to its shareholders, in which event the gains were taxable,…