ASHLAND OIL v. DEPT. OF REVENUE & FIN.

No. 89-0591.

452 N.W.2d 162 (1990)

ASHLAND OIL, INC., Appellee, v. IOWA DEPARTMENT OF REVENUE AND FINANCE, Appellant.

Supreme Court of Iowa.

February 21, 1990.


Attorney(s) appearing for the Case

Thomas J. Miller, Atty. Gen., Harry M. Griger, Sp. Asst. Atty. Gen., and James D. Miller, Asst. Atty. Gen., for appellant.

E. Kevin Kelly of Hanson, Bjork and Russell, Des Moines, and Larry A. Carver, Ashland, Ky., and William R. Buzo, Lexington, Ky., for appellee.

Considered by LARSON, P.J., and CARTER, LAVORATO, SNELL and ANDREASEN, JJ.


ANDREASEN, Justice.

Ashland Oil, Inc., (Ashland) is a Kentucky corporation with income reportable in Iowa. After being advised that final federal income tax adjustments had been made as to tax years 1974 through 1977, the Iowa Department of Revenue and Finance (department) issued to Ashland a notice of assessment in the amount of $19,306.16. This amount included the additional tax attributable to the federal adjustments plus a recomputation of accrued interest. Payments...

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