COMPTROLLER v. FAIRCHILD INDUSTRIES

No. 115, September Term, 1984.

303 Md. 280 (1985)

493 A.2d 341

COMPTROLLER OF THE TREASURY v. FAIRCHILD INDUSTRIES, INC.

Court of Appeals of Maryland.

June 7, 1985.


Attorney(s) appearing for the Case

Gerald Langbaum, Asst. Atty. Gen., Annapolis (Stephen H. Sachs, Atty. Gen., Baltimore, and John K. Barry, Asst. Atty. Gen., Annapolis, on brief), for appellant.

Michael L. Quinn, Baltimore (Marvin J. Garbis and Garbis & Schwait, Baltimore, on brief), for appellee.

Argued before MURPHY, C.J., and SMITH, ELDRIDGE, COLE, RODOWSKY, JJ., and CHARLES E. ORTH, Jr., Associate Judge of the Court of Appeals of Maryland (retired) and ALAN M. WILNER, Associate Judge of the Court of Special Appeals, Specially Assigned.


MURPHY, Chief Judge.

The question presented is whether, under Maryland Code (1957, 1980 Repl. Vol.), Article 81, § 310(c), a corporate taxpayer is entitled to interest on a state income tax refund arising out of a carryback of a net operating loss and, if so, the date from which interest must be paid. Section 310(c) provides that interest shall be paid on income tax refunds

"accounting from the date the return required under this subtitle was due to...

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