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CATERPILLAR FINANCIAL SERVICES CORP. v. WHITLEY

No. 3-94-0830.

680 N.E.2d 1082 (1997)

288 Ill. App.3d 389

223 Ill.Dec. 879

CATERPILLAR FINANCIAL SERVICES CORPORATION, Plaintiff-Appellant, v. Douglas WHITLEY, as Director of the Illinois Department of Revenue, Patrick Quinn, as Treasurer of the State of Illinois, and the Illinois Department of Revenue, Defendants-Appellees.

Appellate Court of Illinois, Third District.

May 19, 1997.

Attorney(s) appearing for the Case

Richard A. Hanson, McDermott, Will & Emery, Chicago, Jerome B. Libin (argued), William H. Morris, Sutherland, Asbill & Brennan, Washington, DC, Daniel J. Schlicksup, Caterpillar, Inc., Peoria, for Caterpillar Financial Services Corp.

Deborah L. Ahlstrand (argued), Assistant Attorney General, James Ryan, Attorney General, Barbara A. Preiner, Solicitor General, Chicago, for Illinois Department of Revenue, Patrick Quinn, Douglas Whitley.

Justice HOLDRIDGE delivered the opinion of the court:

Benjamin Franklin is credited with the saying that in this world nothing is certain but death and taxes. However, we are convinced that he never had to consider the following: are royalties and interest paid to a domestic parent company by a foreign subsidiary under the domestic "water's edge" combined reporting method of apportioning income to be treated the same as dividends paid between similar entities under...

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