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ARIZONA TRACTOR CO. v. ARIZONA STATE TAX COM'N

No. 1 CA-CIV 3312.

115 Ariz. 602 (1977)

566 P.2d 1348

ARIZONA TRACTOR COMPANY, an Arizona Corporation, Appellant, v. ARIZONA STATE TAX COMMISSION, John M. Hazelett, L. Waldo DeWitt, and Bob Kennedy, Arizona State Tax Commissioners, Appellees.

Court of Appeals of Arizona, Division 1, Department C.

July 19, 1977.

Attorney(s) appearing for the Case

Evans, Kitchel & Jenckes, P.C. by Dean C. Short, II, Phoenix, for appellant.

Bruce E. Babbitt, Atty. Gen. by Frank L. Migray, Mary Z. Chandler, Asst. Attys. Gen., Phoenix, for appellee.

OPINION

JACOBSON, Presiding Judge.

The sole issue to be determined by this appeal is whether the losses (income) incurred by a domestic corporation's ownership in a limited partnership doing business in another state are deductible (taxable) on the domestic corporation's Arizona income tax return.

The facts giving rise to this issue are not in dispute. During the fiscal tax years of 1969, 1970 and 1971, appellant, Arizona Tractor Company (Arizona Tractor...

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