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AMERICAN BAKERIES COMPANY v. JOHNSON

No. 453.

131 S.E.2d 1 (1963)

259 N.C. 419

AMERICAN BAKERIES COMPANY v. W. A. JOHNSON, Commissioner of Revenue of North Carolina.

Supreme Court of North Carolina.

May 22, 1963.

Attorney(s) appearing for the Case

Atty. Gen. T. W. Bruton, Asst. Atty. Gen. Peyton B. Abbott, Raleigh, for the State.

Smith, Leach, Anderson & Dorsett, Raleigh, for plaintiff.

Joyner & Howison, amicus curiae, for Southern Ry. Co.

DENNY, Chief Justice.

Two questions are presented for determination on this appeal:

1. Whether dividends paid to the plaintiff (taxpayer) by its subsidiary corporation derived from the earnings of the subsidiary's manufacture and sales of bakery products outside of North Carolina, are subject to income taxes imposed by North Carolina pursuant to the provisions of G.S. § 105-134.

2. Whether the North Carolina Commissioner of Revenue is limited...

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