Co-Con, Inc. v. Bureau of Revenue

OPINION

LOPEZ, Judge.

Taxpayers, Co-Con, Inc. and Universal Constructors, Inc. appeal from a decision and order of the commissioner of revenue denying their protests concerning various assessments of gross receipts and compensating tax and penalties. We affirm in part, reverse in part, and remand in part with instructions.

There are five points for consideration:(1) Gross Receipts on Leases. During the periods under question, items of construction equipment common to the operations of both corporations were utilized by both on their construction projects without regard to which corporation held…