HONOLULU OIL CORP. v. FRANCHISE TAX BD.

Docket No. S.F. 21210.

60 Cal.2d 417 (1963)

386 P.2d 40

34 Cal. Rptr. 552

HONOLULU OIL CORPORATION, Plaintiff and Appellant, v. FRANCHISE TAX BOARD, Defendant and Respondent.

Supreme Court of California. In Bank.

October 29, 1963.


Attorney(s) appearing for the Case

Herbert W. Clark, Franklin C. Latcham, Morrison, Foerster, Holloway, Clinton & Clark and Roger W. Findley for Plaintiff and Appellant.

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

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


PEEK, J.

Plaintiff Honolulu Oil Corporation appeals from a judgment in favor of the defendant Franchise Tax Board of the State of California in an action by the company to recover alleged overpayments of the corporate franchise tax in each of the taxable years 1951, 1952, 1953, and 1954.

Honolulu Oil Corporation is a Delaware corporation with its principal offices located in San Francisco. During the years in question it engaged in exploration for, and extraction...

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