State of North Carolina Before the Tax Review Board County of Wake
STATE OF NORTH CAROLINA BEFORE THE TAX REVIEW BOARD COUNTY OF WAKE IN THE MATTER OF: The Proposed Corporate ) Franchise and Income Tax ) Assessments for the Fiscal ) Years of January 31, 1992 ) through January 31, 1994 ) by the Secretary of Revenue ) of North Carolina ) ) ADMINISTRATIVE DECISION vs. ) Number: 381 A&F Trademark, Inc., ) Caciqueco, Inc., ) Expressco, Inc., ) Lanco, Inc., ) Lernco, Inc., ) Limco Investments, Inc., ) Limtoo, Inc., ) Structureco, Inc. ) V. Secret Stores, Inc. ) This matter was heard before the Tax Review Board (hereinafter “Board”) in the City of Raleigh, Wake County, North Carolina, in the office of the State Treasurer on Thursday, February 14, 2002, upon the Petition of A&F Trademark, Inc., Caciqueco, Inc., Expressco, Inc., Lanco, Inc., Lernco, Inc., Limco Investments, Inc., Limtoo, Inc., Structureco, Inc., and V. Secret Stores, Inc. (“hereinafter Taxpayers”) for administrative review of the Final Decision of Michael A. Hannah, Assistant Secretary of the North Carolina Department of Revenue, entered on September 19, 2000, sustaining the Department’s proposed assessment of corporate franchise and income taxes for fiscal year ended January 31, 1994. Chairman Richard H. Moore, State Treasurer, presided over the hearing with Jo Anne Sanford, Chair, Utilities Commission and duly appointed member, Noel L. Allen, Attorney at Law participating. Paul H. Frankel, Hollis L. Hyans, and Craig B. Fields of Morrison & Foerster, LLP, and Jasper L. Cummings, Jr., of Alston & Bird, LLP represented the Taxpayers at the hearing. Kay Miller Hobart, Assistant Attorney General, represented the Secretary of Revenue at the hearing. STATEMENT OF FACTS The Taxpayers are nine wholly-owned subsidiaries of the Limited Stores, Inc.
[Show full text]