United Canners, Inc. v. King

OPINION

FONES, Justice.

This state revenue case involves the application of the exemption in T.C.A. § 67-4-309(b) extended to a transferee of the ownership of a business, the former owner of which has paid the privilege tax on bottlers imposed by T.C.A. § 67-4-402 for the full tax year in which the transfer was made.

Plaintiff, United Canners, Inc., initiated this action seeking a refund of the tax that was assessed by the commissioner and paid under protest. The chancellor found that United Canners was a transferee under the statute and entitled to recover the tax penalty and interest of…