HERCULES INC. v. PLEDGER

No. 94-684.

894 S.W.2d 576 (1995)

319 Ark. 702

HERCULES INC., Appellant, v. James C. PLEDGER, Director, Department of Finance & Administration, State of Arkansas, Appellee.

Supreme Court of Arkansas.

March 6, 1995.


Attorney(s) appearing for the Case

Eugene G. Sayre, Little Rock, for appellant.

Joyce Kinkead, Little Rock, for appellee.


GLAZE, Justice.

Appellant Hercules Inc. is a Delaware corporation doing business in Arkansas, and reports its business income which is subject to the Arkansas Uniform Distribution of Income for Tax Purposes Act (UDITPA) on a calendar year basis. In 1988, appellee Department of Finance & Administration (DF & A) notified Hercules that its 1987 state income tax return was subject to a "desk audit." On December 7, 1988, Hercules was notified of a proposed deficiency...

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