California Court of Appeal

In a taxpayer's action for refund of taxes, interest, and penalties paid following the Franchise Tax Board (FTB)'s disallowance of enterprise zone sales and use tax credits claimed by the taxpayer under Revenue and Taxation Code section 23612.2 for the purchase of current expense assets, the trial court's grant of the FTB's motion for judgment on the pleadings is affirmed, as the sales and use tax credit of section 23612.2 is not available in connection with the purchase of current expense assets but only with the purchase of capital assets, because the definition of "qualified property" in the statute uses the terms "placed in service" and "basis," which are terms used generally with respect to capital assets.

Appellate Information

• Decided 03/13/2012
• Published 03/13/2012

Judges

• Mallano

Court

• California Court of Appeal

Counsel

• For Appellant:
  
• Reed Smith, Marta Lynn Smith