Legal Opinion
Burton E. Green Investment Co. v. McColgan
California Court of Appeal
Decided August 13, 1943No. Civ. 14073PublishedCited by 10 opinions
1Opinion of the CourtMoore, P. J.
The question for decision is whether a dividend paid by a California corporation, producing its oil only in this state, which reported all of its revenues as gross income for franchise tax purposes and which was allowed a deduction for percentage depletion for franchise tax purposes in excess of its depletion computed on the basis of cost, is deductible by the recipient corporation.
This action involved the obligation of the plaintiff under the Bank and Corporation Franchise Tax Act, (Deering’s Gen. Laws, 1937, Act 8488) hereinafter referred to as “the Act.” Plaintiff, as a California…
2Cases cited3 opinions
- Coleman v. City of OaklandCalifornia Court of Appeal · 1930
- Corporation of America v. JohnsonCalifornia Supreme Court · 1936
- Ransome-Crummey Co. v. WoodhamsCalifornia Court of Appeal · 1916
3Cited by10 opinions
- Security-First National Bank v. Franchise Tax BoardCalifornia Supreme Court · 1961
- Anaheim Union Water Co. v. Franchise Tax BoardCalifornia Court of Appeal · 1972
- Golden Gate Scenic Steamship Lines, Inc. v. Public Utilities CommissionCalifornia Supreme Court · 1962
- River Garden Retirement Home v. Franchise Tax BoardCalifornia Court of Appeal · 2010
- Rosemary Properties, Inc. v. McColganCalifornia Supreme Court · 1947
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