Tax Type
Corporation Income Tax
Description
Assessment adjustment
Topic
Taxpayers' Remedies
Date Issued
04-25-1984
April 25, 1984
Re: Corporation Income Tax - 1979
Apportionment of Capital Gain
Dear ****************
Your letter of March 23, 1984, with the supporting exhibits for Schedule D of the taxpayer's 1979 federal return has been received.
After review of the schedules it appears that the capital loss in question resulted from the liquidation of a subsidiary and should be included in apportionable income. The assessment will be adjusted accordingly.
Sincerely,
W. H. Forst
State Tax Commissioner
Rulings of the Tax Commissioner