California Court of Appeal
Jim Beam Brands Co. v. Franchise Tax Bd., A107209
In a tax refund action, the State Board of Equalization correctly ruled that the gain from plaintiff's sale of the stock of a wholly-owned subsidiary constituted "business income" within the meaning of Revenue and Taxation Code section 25120(a).
Appellate Information
- Decided 10/17/2005
- Published 10/17/2005
Judges
- SEPULVEDA, Acting P.J.
Court
- California Court of Appeal
Counsel
- For Appellant:
- Silverstein & Pomerantz, Edwin Park Antolin and Amy L. Silverstein, San Francisco, Horwood Marcus & Berk, Jordan M. Goodman and Brian L. Browdy for appellant., Morrison & Foerster, Charles J. Moll III and William Hays Weissman, San Francisco, for Better Communications, Inc., as amicus curiae on behalf of appellant.
- For Appellees:
- Bill Lockyer, Attorney General, William Carter, Supervising Deputy Attorney General, Anne Michelle Burr and George C. Spanos, Deputy Attorneys General, for respondent.