Corning Glass Works v. Department of Revenue

HOWERTON, Judge.

Corning Glass Works appeals from a judgment of the Franklin Circuit Court affirming a decision by the Kentucky Board of Tax Appeals assessing as business income, subject to Kentucky taxation, approximately $58,000,000.00 in income derived from capital gains, interest and foreign royalties for the years 1968 through 1972. None of the specific items in question had anything to do with Coming’s business activities in Kentucky. Corning argues that all income earned by a multi-state corporation is not necessarily subject to taxation by Kentucky. It also challenges the assessment on…