Commonwealth v. General Electric Co.

This corporate income tax appeal stems from action of the State Department of Taxation in combining the income of two corporations, a parent and its wholly owned subsidiary, and in adjusting the Virginia tax on this income to reflect business actually done in Virginia. The parent-taxpayer contends that the Department erroneously included within its apportionable income for the years in question the income of the wholly owned subsidiary. Entwined in the controversy is the 1971 General Assembly’s decision to conform Virginia income tax laws to the federal income tax laws for the purpose of tax…