HOLLY FARMS POULTRY INDUSTRIES, INC. v. CLAYTON

No. 7022SC541.

176 S.E.2d 367 (1970)

9 N.C. App. 345

HOLLY FARMS POULTRY INDUSTRIES, INC. v. I. L. CLAYTON, Commissioner of Revenue of North Carolina.

Court of Appeals of North Carolina.

Certiorari Denied December 1, 1970.


Attorney(s) appearing for the Case

McElwee, Hall & Herring, by W. H. McElwee and Jerone C. Herring, North Wilkesboro, for plaintiff appellee.

Atty. Gen. Robert Morgan, by Asst. Atty. Gen. Myron C. Banks, for defendant appellant.


Certiorari Denied by Supreme Court December 1, 1970.

PARKER, Judge.

The issue before us is whether under the circumstances disclosed by the stipulated facts, a surviving corporation (Mocksville Feed Mills, Inc.) which resulted from the merger into it of two other corporations (Lovette Poultry Company, Inc., and Davie Poultry Company, Inc.) is entitled under G.S. § 105-147(9)d to carry over and deduct for North Carolina income tax purposes the pre-merger...

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