Cook Export Corp. v. King

OPINION

COOPER, Justice.

This action was brought by the appellant to recover corporate franchise and excise taxes, interest and penalties paid by it under protest for the years 1972 and 1973. Appellant asserts that it was improperly assessed the taxes on income attributable to *898its parent corporation, that the sums assessed do not constitute “net earnings” within the meaning of the excise tax statute, that the excise and franchise tax schemes suffer numerous constitutional infirmities as applied to it, and that any tax due the state should be determined according to the statutory apportionment…