Legal Opinion
FMC Corp. v. Woods
Tennessee Supreme Court
Decided June 22, 1981PublishedCited by 5 opinions
1Opinion of the Court
OPINION
DROWOTA, Justice.
The plaintiff, FMC Corporation, is a mul-ti-state business licensed to do business in Tennessee. FMC has a subsidiary, FMC Export, which is a domestic international sales corporation (DISC). Pursuant to §§ 991 — 97 of the Internal Revenue Code, FMC can achieve substantial tax savings by paying “commissions” to the DISC based upon export sales. It is the treatment of these “commissions” under our excise tax statutes and the regulations promulgated under them that is the subject of this litigation.
FMC Export is incorporated in Delaware and has no offices or employees in…
2Cases cited4 opinions
- Bank of Commerce & Trust Co. v. SenterTennessee Supreme Court · 1923
- Gross v. Nashville Gas Co.Court of Appeals of Tennessee · 1980
- Woods Lumber Company v. MacFarlandTennessee Supreme Court · 1962
- Kroger Co. v. TollettTennessee Supreme Court · 1980
3Cited by5 opinions
- Kellogg Co. v. OlsenTennessee Supreme Court · 1984
- Cook Export Corp. v. KingTennessee Supreme Court · 1983
- M. Lowenstein & Sons, Inc. v. South Carolina Tax CommissionSupreme Court of South Carolina · 1982
- Steven Waters v. Reagan Farr, Commissioner of Revenue for the State of TennesseeTennessee Supreme Court · 2009
- Steven Waters v. Reagan Farr, Commissioner of Revenue for the State of Tennessee - Concurring/DissentingTennessee Supreme Court · 2009