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SUPERIOR OIL CO. v. FRANCHISE TAX BD.

Docket No. L.A. 26672.

60 Cal.2d 406 (1963)

386 P.2d 33

34 Cal. Rptr. 545

SUPERIOR OIL COMPANY, Plaintiff and Respondent, v. FRANCHISE TAX BOARD, Defendant and Appellant.

Supreme Court of California. In Bank.

October 29, 1963.

Attorney(s) appearing for the Case

Stanley Mosk, Attorney General, James E. Sabine and Dan Kaufmann, Assistant Attorneys General, and Frank M. Keesling for Defendant and Appellant.

Latham & Watkins, Henry C. Diehl, Ira M. Price II, C. Robert Wilmsen, John H. Hall and Ralph E. Smith for Plaintiff and Respondent.

Forrest N. Shumway and Loren P. Oakes as Amici Curiae on behalf of Plaintiff and Respondent.

PEEK, J.

The defendant Franchise Tax Board appeals from a judgment awarding to the plaintiff Superior Oil Company a tax refund of $502,645.48 including interest, claimed to constitute an excess levy of the corporate franchise tax for the company's fiscal year ending August 31, 1952.

The franchise tax is impressed annually on corporations for the privilege of exercising the corporate franchise within California. (Rev. & Tax. Code, § 23151.)

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