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IN THE MATTER OF REYNOLDS TOBACCO COMPANY

No. 9021SC191.

399 S.E.2d 586 (1991)

101 N.C. App. 382

In the Matter of The Proposed Assessment of Additional Franchise Tax Against R.J. REYNOLDS TOBACCO COMPANY for the Taxable Years 1981 and 1982.

Court of Appeals of North Carolina.

January 15, 1991.

Attorney(s) appearing for the Case

Atty. Gen. Lacy H. Thornburg by Asst. Atty. Gen. Marilyn R. Mudge, Raleigh, for appellant Helen A. Powers, Secretary of Revenue of the State of N.C.

Hendrick, Zotian, Cocklereece & Robinson by John A. Cocklereece, Jr. and William A. Blancato, Winston-Salem, for appellee R.J. Reynolds Tobacco Co.

LEWIS, Judge.

This case strikes us as somewhat unique in that neither party has cited any case law nor direct statutory authority for their positions. We also note that the subject of this appeal, G.S. § 105-163.03(a) has been repealed so that this case will not be seen again.

The issue in this case is the proper inventory accounting method to be used for certain tax purposes. R.J. Reynolds Tobacco Company ("Reynolds") utilized two inventory accounting...

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