Texas Supreme Court, 1967

Yoakum Industries, Inc. v. Calvert

Texas Supreme Court · Decided March 15, 1967 · Pope, Steakley

414 S.W.2d 171; 10 Tex. Sup. Ct. J. 260; 1967 Tex. LEXIS 228 (South Western Reporter, Second Series)

Cases that cite this one

1 later published case cites this decision.

National Bancshares Corp. v. Bullock (Tex. App. 1978)

This list shows which later cases cite this one. It does not say how they treated it, and no review of that has been done. Not a substitute for Shepard’s or KeyCite — verify before relying.

Opinion of the Court

POPE, Justice.

The question presented in this case is the same as that today decided in Humble Oil *172& Refining Co. v. Calvert, 414 S.W.2d 172. Both cases were jointly presented to the courts below because the issue is common to both of them. In 1957 Yoakum Industries sold its leather processing and manufacturing business, and since that time all of its income has been from interest and dividends paid by foreign corporations. As in Humble, the Comptroller in 1963 assessed Yoakum Industries with additional taxes which it paid and for which this suit was brought to recover. For the reasons expressed in Humble, the receipts of interest and dividends were from foreign corporations and did not constitute business done in Texas within the meaning of art. 12.02, Title 122a, Vernon’s Ann. Civ. St.

The judgment of the court of civil appeals is reversed and the judgment of the trial court is affirmed.

STEAKLEY, J., not sitting in this case.

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