DEERING MILLIKEN v. S.C. TAX COMMISSION

19317

257 S.C. 185 (1971)

184 S.E.2d 711

DEERING MILLIKEN, INC., Respondent, v. SOUTH CAROLINA TAX COMMISSION, Appellant.

Supreme Court of South Carolina.

November 10, 1971.


Attorney(s) appearing for the Case

Messrs. Daniel R. McLeod, Atty. Gen., Joe L. Allen, Jr. and G. Lewis Argoe, Jr., Asst. Attys. Gen., of Columbia, for Appellant.

Messrs. Carlisle Roberts, and W. Croft Jennings, Jr., of Roberts, Jennings & Thomas, Columbia, for Respondent.


November 10, 1971.

BRAILSFORD, Justice:

The sole issue on this appeal is whether the total of dollars "paid to the capital stock" of Deering Milliken, Inc., which, under Section 65-606, Code of 1962, constitutes the base for computation of the annual license tax on the corporation, amounts to $13,750.000.00, as reported by the taxpayer, or $102,176,600.00, as determined by the South Carolina Tax Commission.

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