TENNESSEE NATURAL GAS LINES, INC. v. KING


635 S.W.2d 95 (1982)

TENNESSEE NATURAL GAS LINES, INC., Plaintiff-Appellant, v. John K. KING, Commissioner of Revenue, State of Tennessee, et al., Defendants-Appellees.

Supreme Court of Tennessee, at Nashville.

June 21, 1982.


Attorney(s) appearing for the Case

James W. Berry, Jr., James C. Gooch, Bass, Berry & Sims, Nashville, for plaintiff-appellant.

Jimmy G. Creecy, Deputy Atty. Gen., J. Robert Walker, Asst. Atty. Gen., Nashville, for defendants-appellees.


OPINION

DROWOTA, Justice.

The issue in this revenue case is the correct manner of computing a credit for corporate excise taxes, which credit is deducted from the amount of gross receipts taxes paid by certain utilities and other types of businesses.

Tennessee Natural Gas Lines ("Tennessee Natural") is a corporation engaged in the business of transmitting and distributing natural gas. It has four customers, three of which purchase natural gas for...

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