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INDIANA DEPT. OF REV. v. 1 STOP AUTO SALES, INC.

No. 49S10-0308-TA-358.

810 N.E.2d 686 (2004)

INDIANA DEPARTMENT OF REVENUE, Appellant (Respondent below), v. 1 STOP AUTO SALES, INC., Appellee (Petitioner below).

Supreme Court of Indiana.

June 22, 2004.

Attorney(s) appearing for the Case

Steve Carter, Attorney General of Indiana, Nandita G. Shepherd, Deputy Attorney General, Indianapolis, IN, Attorneys for Appellant.

B. Keith Shake, Indianapolis, IN, Attorney for Appellee.

ON PETITION FOR REVIEW FROM THE INDIANA TAX COURT

SULLIVAN, Justice.

The Tax Court held that 1 Stop Auto Sales, Inc., an auto dealership that financed its customers' purchases, was not required to reduce the amount of its bad debt deduction by the value of repossessed collateral when calculating its sales tax liability. We reverse the Tax Court's decision, finding that the Legislature intended that only the net debt that is unable to be collected may be...

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