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S.W. FLORIDA CAP. CORP. v. PUB. SERV. COM'N

No. 94-418.

661 So.2d 82 (1995)

SOUTHWEST FLORIDA CAPITAL CORPORATION, Appellant, v. The FLORIDA PUBLIC SERVICE COMMISSION; Gulf Utility Company; and the Florida Waterworks Association, Appellees.

District Court of Appeal of Florida, First District.

Rehearing Denied September 5, 1995.

Attorney(s) appearing for the Case

Patrick K. Wiggins of Wiggins & Villacorta, P.A., Tallahassee, and Robert L. Donald, of Law Office of Robert L. Donald, Fort Myers, for appellant.

Robert D. Vandiver, Gen. Counsel, and Jean R. Wilson, Associate Gen. Counsel, Tallahassee, and David E. Smith, Director of Appeals, Tallahassee, for appellee Public Service Comm.

Kenneth Gatlin & Katherine Cowdery of Gatlin, Woods, Carlson, & Cowdery, Tallahassee, for appellee Gulf Utility.

F. Marshall Deterding of Rose, Sundstrom & Bentley, Tallahassee, for appellee Florida Waterworks.

BARFIELD, Judge.

This case comes to the court because federal tax law changed in 1987, resulting in contributions made to utilities in aid of construction (CIAC) being considered ordinary income instead of contributions of capital. The resulting tax became quite a burden to some smaller utilities. When utilities extracted from developers a sum of money sufficient to pay the tax, that sum also was treated as income subject to tax. The process of extracting a sum sufficient...

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