Legal Opinion
KeyCorp v. Tracy
Ohio Supreme Court
Decided December 1, 1999No. 98-1608PublishedCited by 8 opinions
1Opinion of the Court
Francis E. Sweeney, Sr., J.
At issue is whether Society’s placement of its excess cash in repurchase agreements, Eurodollar deposits, and cash deposits2 with SNB creates the types of investments in indebtedness that are excluded by R.C. 5733.05(A)(5)(c) from the value of the issued and outstanding shares of Society’s stock at issue. We answer this issue in the negative, finding that the transactions in question do not constitute investments in the issued indebtedness of SNB and,, therefore, should not be excluded under R.C. 5733.05(A)(5)(c). We affirm the BTA’s decision.
*240Franchise tax is an…
2Cases cited5 opinions
- State v. WilsonOhio Supreme Court · 1997
- State v. AspellOhio Supreme Court · 1967
- Nebraska Department of Revenue v. LoewensteinSupreme Court of the United States · 1994
- Speroff v. First-Central Trust Co.Ohio Supreme Court · 1948
- Gulf Oil Corp. v. LindleyOhio Supreme Court · 1980
3Cited by8 opinions
- General Motors Corp. v. Franchise Tax BoardCalifornia Supreme Court · 2006
- State Ex Rel. O'Connor v. DavisOhio Court of Appeals · 2000
- Ohio Grocers Association v. WilkinsOhio Court of Appeals · 2008
- KeyCorp v. TracyOhio Supreme Court · 1999
- State v. BaumgartnerOhio Court of Appeals · 2002
3 more not listed; retrieve them via the Exa API.