Lazy JD Cattle Co. v. State Board of Equalization

Plaintiffs are corporate taxpayers who brought a class action against defendant State Board of Equalization seeking a declaratory judgment establishing their right to net operating loss deductions in computing their state corporation license taxes. The district court of Lewis and Clark County, the Hon. Gordon Bennett, district judge, entered summary judgment for plaintiffs and denied the summary judgment sought by defendant. From this final judgment, defendant State Board of Equalization appeals.

The thirteen plaintiff corporations are each subject to payment of federal income taxes pursuant…