RUBY CONST. CO. v. DEPT. OF REV., COM. EX REL. CARPENTER


578 S.W.2d 248 (1978)

RUBY CONSTRUCTION COMPANY, INC., Appellant, v. DEPARTMENT OF REVENUE, COMMONWEALTH of Kentucky, by and on Relation of Maurice P. CARPENTER, Commissioner of Revenue, and Kentucky Board of Tax Appeals, Appellees.

Court of Appeals of Kentucky.

Modified November 10, 1978.

Discretionary Review Denied April 3, 1979.


Attorney(s) appearing for the Case

Bruce M. Reynolds, Stites, McElwain & Fowler, Louisville, for appellant.

William S. Riley, John A. Nefzger, Dept. of Revenue, Frankfort, Dale W. Henley, Paul W. Blair, Hogge, Blair & Dehner, Morehead, for appellees.

Before MARTIN, C. J., and LESTER and WHITE, JJ.


MARTIN, Chief Judge.

This is an appeal of a decision of the Kentucky Board of Tax Appeals as affirmed by the Franklin Circuit Court. We are presented with two issues: first, whether a multiform1 construction company engaged in interstate operations, which reports its income using the percentage of completion method of accounting, may allocate its income and losses to Kentucky under the formulary apportionment method defined at KRS 141...

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