Tollett v. Franklin Equities, Inc.

OPINION

HARBISON, Justice.

This action was instituted by a taxpayer to recover corporate franchise taxes paid, under protest. It contended that intangible assets of the corporation should not be included in the statutory franchise tax base. The trial judge allowed recovery and the Commissioner of Revenue has appealed. In our opinion the provisions of the applicable statutes support the contentions of the appellant.

Both parties moved for summary judgment in the trial court. The record consists only of brief pleadings and two very short affidavits. Neither of the parties insists *97that there is any…