Sperry and Hutchinson Co. v. Department of Revenue

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• holding that corporation’s interest from short-term securities held pending use of funds in its regular business operation was apportionable
• income from short-term secu- rities apportionable, where purpose of holding them was to satisfy needs for liquid capital during periods of cash flow deficit
• interest earned on short-term securities held to satisfy the needs for liquid capital in the trading stamp business are apportionable; interest on these securities qualifies as income “arising from transactions and activity in the regular course of the taxpayer’s trade or business”
• applying solely the transactional test

Source: CourtListener parenthetical corpus (CC0).