CITIZENS ELEC. CORP. v. DIR. OF DEPT. OF REV.

No. 69763.

766 S.W.2d 450 (1989)

CITIZENS ELECTRIC CORPORATION, Appellant, v. DIRECTOR OF the DEPARTMENT OF REVENUE, et al., Respondents.

Supreme Court of Missouri, En Banc.

March 14, 1989.


Attorney(s) appearing for the Case

John C. Hannegan, Tracy L. Mathis, Robert W. Agler, St. Charles, for appellant.

William L. Webster, Atty. Gen., Richard L. Wieler, Asst. Atty. Gen., Jefferson City, for respondents.


COVINGTON, Justice.

Citizens Electric Corporation seeks review of a decision of the Administrative Hearing Commission upholding a Missouri corporate franchise tax assessment by the Director of Revenue. The decision of the Commission is affirmed.

The facts are not in dispute. In 1941, Genevieve Electric was organized as a rural electric cooperative with a purpose similar to other rural electric cooperatives. In 1945, Genevieve Electric purchased an investor...

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