In Administrative Decision No. 381 dated 7 May 2002, the North Carolina Tax Review Board affirmed Final Decision, Docket No. 97-990, of the Secretary of Revenue, holding that nine formerly unnamed trademark holding companies are doing business in this State for corporate income and franchise tax purposes. The nine taxpayers are A&F Trademark, Inc., Caciqueco, Inc., Expressco, Inc., Lanco, Inc., Lernco, Inc., Limco Investments, Inc., Limtoo, Inc. Structureco, Inc., and V. Secret Stores, Inc, all wholly-owed subsidiaries of the Limited Stores, Inc. ("the Limited"). In its decision, the Board also confirmed the Secretary's conclusion that the taxpayers were "excluded corporations" within the meaning of N.C. Gen. Stat. § 105-130.4(a)(4) and therefore required to file using the single sales factor apportionment formula.

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Last modified on: 10/31/07 03:36:50 PM.