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DEPT. OF REVENUE v. REFINERS OIL CORP.

612 S.W.2d 337 (1981)

DEPARTMENT OF REVENUE, Commonwealth of Kentucky, Maurice P. Carpenter, Commissioner, Kentucky Department of Revenue, Movant, v. REFINERS OIL CORPORATION, Respondent.

Supreme Court of Kentucky.

Rehearing Denied March 31, 1981.

Attorney(s) appearing for the Case

William S. Riley, Asst. Atty. Gen., Nathan Goldman, Dept. of Revenue, Frankfort, for movant.

Charles G. Middleton, Jr., Carl Arthur Henlein, Brooks Alexander, Middleton, Reutlinger & Baird, Louisville, for respondent.

STEPHENSON, Justice.

The issue presented in this case is whether cash distributions to Refiners Oil Corporation are dividends within the meaning of KRS 141.010 so as to relieve Refiners from Kentucky income tax. The Board of Tax Appeals assessed corporate income tax on a portion of the distributions, and the trial court affirmed. The Court of Appeals reversed. We granted discretionary review and reverse.

Refiners owned stock in Plantation Pipeline Company...

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