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DIRECTOR OF REVENUE v. CNA HOLDINGS, INC.

No. 51,2002.

818 A.2d 953 (2003)

DIRECTOR OF REVENUE, Appellee Below, Appellant, v. CNA HOLDINGS, INC., F/K/A HOECHST CELANESE CORPORATION, Appellant Below, Appellee.

Supreme Court of Delaware.

Decided: March 21, 2003.

Attorney(s) appearing for the Case

Joseph Patrick Hurley, Jr., Esquire, of the Department of Justice, Wilmington, Delaware, for Appellant.

Stanford L. Stevenson, III, Esquire, of Morris, Nichols, Arsht & Tunnell, Wilmington, Delaware, and Paul H. Frankel, Esquire, and Michael A. Pearl, Esquire, of Morrison & Foerster, LLP, New York, New York, for Appellee.

Before VEASEY, Chief Justice, WALSH, HOLLAND, BERGER and STEELE, Justices, constituting the Court en Banc.

BERGER, Justice:

In this appeal, we consider the meaning of a tax statute that allocates and apportions to Delaware part of the entire taxable income of corporations that generate revenue in several states. The relevant provision includes, as taxable income in Delaware, 100% of the gains (or losses) on the sale of real property located in this State. This statute caused the appellee taxpayer to pay tax on 187% of its gain...

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