Legal Opinion
Times Mirror Co. v. Franchise Tax Board
California Court of Appeal
Decided February 28, 1980No. Civ. 56789PublishedCited by 9 opinions
1Opinion of the Court
Opinion
COLE, J. *
The issue in this case is the treatment to be accorded to capital gains income received by appellant the Times Mirror Company
when it sold the stock of the Sun Company in 1969. Believing the income to be “business income” as defined by the Uniform Division of Income for Tax Purposes Act (UDITPA), Revenue and Taxation Code sections 25120 to 25139, 1 appellant reported it as such for franchise tax purposes. Respondent Franchise Tax Board took a contrary position, asserting that the capital gains were “nonbusiness income,” and assessed additional taxes against appellant.…
2Cases cited7 opinions
- Butler Brothers v. McColganCalifornia Supreme Court · 1941
- Palmer v. City of Long BeachCalifornia Supreme Court · 1948
- Southern Pacific Co. v. McColganCalifornia Court of Appeal · 1945
- Holly Sugar Corp. v. JohnsonCalifornia Supreme Court · 1941
- John Deere Plow Co. v. Franchise Tax BoardCalifornia Supreme Court · 1951
2 more not listed; retrieve them via the Exa API.
3Cited by9 opinions
- Hoechst Celanese Corp. v. Franchise Tax BoardCalifornia Supreme Court · 2001
- District of Columbia v. Pierce Associates, Inc.District of Columbia Court of Appeals · 1983
- McDonnell Douglas Corp. v. Franchise Tax BoardCalifornia Court of Appeal · 1994
- Robert Half Int'l, Inc. v. Franchise Tax Bd.California Court of Appeal · 1998
- Jim Beam Brands Co. v. Franchise Tax BoardCalifornia Court of Appeal · 2005
4 more not listed; retrieve them via the Exa API.