Sayles Biltmore Bleacheries, Inc. v. Johnson

RobmaN, E.J.

Plaintiff asserts it is engaged in manufacturing, hence its income tax liability is measured by G.S. 105-134 (6) a. Defendant asserts liability must be determined by the use of the single factor of gross receipts as required by subsection f. If plaintiff is principally engaged in manufacturing, it was not liable for the income tax assessment.

The parties stipulated:

“5. During all of the years 1957, 1958 and 1959 the plaintiff was engaged in the State of North Carolina in operating a textile finishing plant and in finishing textile goods owned by-others, on a contractual basis. The…