Justice THEIS delivered the opinion of the court:
The trial court ruled that proceeds from a taxpayer's sale of pipeline constituted business income to be apportioned under the Illinois Income Tax Act's general three-factor formula. On appeal, the taxpayer challenges the trial court's classification of the proceeds as business income, and the defendant challenges the trial court's apportionment determination. We affirm in part and reverse in part.
Texaco,...
Let's get started
Welcome to the leading source of independent legal reporting
Sign on now to see your case.
Or view more than 10 million decisions and orders.
- Updated daily.
- Uncompromising quality.
- Complete, Accurate, Current.
