Wisconsin Department of Revenue v. Caterpillar, Inc.

¶1. The Wisconsin Department of Revenue (DOR) appeals a circuit court judgment affirming the Wisconsin Tax Appeal Commission's interpretation of WlS. Stat. § 71.06(1) (1985-86) to enable the surviving corporation of a pre-1987 merger to offset net operating loss carry-forwards against current net operating income in accord with the treatment the Internal Revenue Service (IRS) affords under federal law. Because we conclude that WlS. Stat. § 71.26(4) (1987-88), the renumbered successor to § 71.06(1) (1985-86), permitted Caterpillar, Inc. to make the offsets of net operating loss carry-forwards…