TIMES MIRROR CO. v. FRANCHISE TAX BD.

Docket No. 56789.

102 Cal.App.3d 872 (1980)

162 Cal. Rptr. 630

TIMES MIRROR COMPANY, Plaintiff and Appellant, v. FRANCHISE TAX BOARD, Defendant and Respondent.

Court of Appeals of California, Second District, Division One.

February 28, 1980.


Attorney(s) appearing for the Case

COUNSEL

Gibson, Dunn & Crutcher, Peter L. Baumbusch, Don Howarth and Robert A. Rizzi for Plaintiff and Appellant.

George Deukmejian, Attorney General, and Philip C. Griffin, Deputy Attorney General, for Defendant and Respondent.


OPINION

COLE, J.*

The issue in this case is the treatment to be accorded to capital gains income received by appellant the Times Mirror Company when it sold the stock of the Sun Company in 1969. Believing the income to be "business income" as defined by the Uniform Division of Income for Tax Purposes Act (UDITPA), Revenue and Taxation Code sections 25120...

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