Hercules Inc. v. South Carolina Tax Commission

Rhodes, Justice:

This is an appeal from an order denying a motion for judgment on the pleadings made by appellant Hercules Incorporated in an action for recovery of income taxes in the amount of $372,059.46, with assessed interest of $113,478-.14, which had been paid under protest. We affirm.

On March 15, 1971 Hercules duly filed an income tax return for the year 1970 and thereafter filed an amended return on September 12, 1972. The Internal Revenue Service (IRS) began an examination of the 1970 return and was granted waivers of the statute of limitations on deficiencies and overassessments of…