Commissioners of the Sinking Fund of Louisville v. South Central Bell Telephone Co.

OPINION OF THE COURT

The Kentucky Supreme Court hereby affirms the decision of the Court of Appeals in this matter. This Court adopts the opinion of the Court of Appeals which is as follows:1

“This is an appeal from a judgment supported by an opinion permitting appellee to impose an occupational tax upon Voluntary Separation Income Pay Plan payments made by appellant to certain qualifying employees.

Within the purview of the Federal Employee Retirement Income Security Act, South Central Bell developed a Voluntary Separation Income Pay Plan (VSIP) which permitted regular, full-time management…