Chapman v. Oklahoma Tax Commission

JACKSON, Justice.

This is an appeal by Harry Allen Chapman and Mary Kay Chapman from an order of the Oklahoma Tax Commission assessing additional income taxes against them for the years 1962 and 1963. The taxpayers paid the additional tax under protest and appealed pursuant to the statute now codified as 68 O.S.1965 Supp., Sec. 225.

There is no dispute as to the facts. Taxpayers’ income consisted principally of dividends on common stocks and the return on investments in, and the development of, oil producing properties. Most of taxpayers’ income for the years 1958, 1959 and 1960 (95%, 92% and…