Legal Opinion
Great Western Financial Corp. v. Franchise Tax Board
California Supreme Court
Decided February 4, 1971No. L.A. 29732PublishedCited by 16 opinions
1Opinion of the Court
*4Opinion
MOSK, J.
The plaintiff corporation received dividends from other corporations each of which had previously paid a tax on the income from which the dividends were declared. In the process of determining its taxable income the plaintiff deducted the dividends so received. In calculating its tax due the State of California, plaintiff also attempted to deduct expenses attributable to receiving the dividends which had been omitted from its income.
The plaintiff corporation maintains that to prohibit deducting the expenses results in double taxation. We have concluded that the Franchise Tax…
2Cases cited5 opinions
- Southern Service Co. v. County of Los AngelesCalifornia Supreme Court · 1940
- Miller v. McColganCalifornia Supreme Court · 1941
- Security-First National Bank v. Franchise Tax BoardCalifornia Supreme Court · 1961
- Burnham v. Franchise Tax BoardCalifornia Court of Appeal · 1959
- Hetzel v. Franchise Tax BoardCalifornia Court of Appeal · 1958
3Cited by16 opinions
- Southern California Edison Co. v. State Board of EqualizationCalifornia Supreme Court · 1972
- Anaheim Union Water Co. v. Franchise Tax BoardCalifornia Court of Appeal · 1972
- Estate of GiolittiCalifornia Court of Appeal · 1972
- Ceridian Corp. v. Franchise Tax BoardCalifornia Court of Appeal · 2001
- Handlery v. Franchise Tax BoardCalifornia Court of Appeal · 1972
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