SOUTHERN RY. CO. v. TAYLOR


812 S.W.2d 577 (1991)

SOUTHERN RAILWAY COMPANY, Plaintiff-Appellant, v. Dudley TAYLOR, Commissioner of Revenue, State of Tennessee, and the Department of Revenue of the State of Tennessee, Defendants-Appellees.

Supreme Court of Tennessee, at Nashville.

June 10, 1991.


Attorney(s) appearing for the Case

Everett B. Gibson, Laughlin, Halle, Gibson & McBride, Memphis, for plaintiff-appellant.

Charles W. Burson, Atty. Gen. & Reporter, Joe C. Peel, Asst. Atty. Gen., Nashville, for defendants-appellees.


OPINION

REID, Chief Justice.

This is a suit by Southern Railway Company (Southern) for the recovery of corporate excise taxes paid by Southern pursuant to an assessment made by the Commissioner of Revenue as the result of a 1986 audit of the taxpayer's 1984 tax return. The suit contests the Commissioner's disallowance of a net operating loss carryover claimed by the taxpayer on its 1984 return and seeks the recovery of $215,979.04 in taxes, interest, and...

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