Case ID: nc_247/html/0163-01.html
Source: Caselaw Access Project
Author: {"author": "Per Curiam.", "license": "Public Domain", "url": "https://static.case.law/"}
Date Created: 2024-08-24T03:29:51.129683

GOOD WILL DISTRIBUTORS (Eastern), INC. v. EUGENE G. SHAW, COMMISSIONER OF REVENUE OF THE STATE OF NORTH CAROLINA.
    (Filed 20 November, 1957)
    Appeal by defendant from Rudisill, J., May Civil Term 1957 of Gaston.
    Plaintiff and Catholic Books (Southeast) Inc., domestic corporations, merged on 1 June 1954. Plaintiff is the surviving corporation. Catholic Books (Southeast) Inc. sustained an economic loss of $15,221.23 in its fiscal year ending 31 May 1953 and for the year ending 31 May 1954 a loss amounting to $5,022.85. Plaintiff, the surviving corporation, deducted these two losses from its income for the fiscal year ending 31 May 1955. The deduction was disallowed and a tax assessed on the amount so deducted. The tax was paid under protest and refund was refused. This suit is to recover the amount so paid. The Court rendered judgment on the pleadings which establish the above facts. Defendant appealed.
    
      Whitener & Mitchem for plaintiff appellee.
    
    
      Attorney General Patton and Assistant Attorneys General Abbott and Behrends for defendant appellant.
    
   Per Curiam.

The law as interpreted this day in the companion case of Good Will Distributors (Northern), Inc. v. Shaw, Commissioner, is applicable to the facts of this case. For the reasons there given the judgment of the Superior Court is

Reversed.