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SECRETARY OF REV. v. CAROLINA TEL. & TEL. CO.

No. 8510SC1243.

344 S.E.2d 46 (1986)

In the Matter of the Proposed Assessment of Additional Franchise Tax for the Taxable Quarters Ended March 31, 1980, June 30, 1980 and September 30, 1980 by the SECRETARY OF REVENUE OF NORTH CAROLINA v. CAROLINA TELEPHONE AND TELEGRAPH COMPANY.

Court of Appeals of North Carolina.

June 3, 1986.

Attorney(s) appearing for the Case

Atty. Gen. Thornburg by Sp. Deputy Atty. Gen. Myron C. Banks, Raleigh, for petitioner-appellant.

Dwight W. Allen, Vice President, Secretary and Gen. Counsel, Carolina Tel. & Tel. Co. and Taylor & Brinson by Herbert H. Taylor, Jr., Tarboro, for respondent-appellee.

EAGLES, Judge.

The sole question presented for review is whether the revenues received by Carolina from the sale of advertisements to appear in the "yellow page" classified directory are includable as "gross receipts" of a telephone company for franchise tax purposes as defined in G.S. 105-120. We find that they are not and accordingly affirm.

G.S. 105-120(b) imposes an annual franchise tax, payable quarterly, on...

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