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PENNZOIL CO. v. DEPT. OF REV.

(OTC 4301; SC S47561)

33 P.3d 314 (2001)

332 Or. 542

PENNZOIL COMPANY and Subsidiaries, Appellants, v. DEPARTMENT OF REVENUE, State of Oregon, Respondent.

Supreme Court of Oregon.

Decided October 4, 2001.

Attorney(s) appearing for the Case

Paul H. Frankel, of Morrison & Foerster LLP, New York, NY, argued the cause for appellants. Carol Vogt Lavine and Timothy R. Volpert, of Davis Wright Tremaine LLP, Portland, filed the briefs for appellants.

Marilyn J. Harbur, Assistant Attorney General, Salem, argued the cause for respondent. With her on the briefs was Hardy Myers, Attorney General.

Before CARSON, Chief Justice, and GILLETTE, DURHAM, LEESON, RIGGS and De MUNIZ, Justices.

De MUNIZ, J.

The issue in this tax case is whether proceeds that taxpayer Pennzoil Company (Pennzoil) received in settlement of a tort judgment constitute business income under Oregon's tax code and, if so, whether apportionment of that income is constitutionally permissible. The Tax Court held that the proceeds were apportionable business income. Pennzoil Co. v. Dept. of Rev., 15 OTR 101 (2000). For the reasons that follow, we affirm.

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