DUKE ENERGY CORP. v. SOUTH CAROLINA DEPT. OF REVENUE

No. 27606.

415 S.C. 351 (2016)

782 S.E.2d 590

DUKE ENERGY CORPORATION, Petitioner, v. SOUTH CAROLINA DEPARTMENT OF REVENUE, Respondent.

Supreme Court of South Carolina.

Decided February 17, 2016.


Attorney(s) appearing for the Case

Burnet Rhett Maybank, III , of Nexsen Pruet, LLC, of Columbia; Jeffrey A. Friedman , of Washington, D.C., Eric S. Tresh and Maria M. Todorova , of Atlanta, Georgia, all of Sutherland, Asbill & Brennan, LLP, all for Petitioner Duke Energy Corporation.

John Marion S. Hoefer , Tracey Colton Green , and John William Roberts , all of Willoughby & Hoefer, PA, of Columbia; and Milton Gary Kimpson , of Columbia, all for Respondent South Carolina Department of Revenue.


We granted certiorari to review the Court of Appeals' decision affirming the administrative law judge's finding that the principal recovered from the sale of short-term securities was not includible in the sales factor of the multi-factor apportionment formula, and, therefore, Duke Energy was not entitled to a tax refund...

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