Alabama’s Pulp Fiction: Paper Company’s Sale of Paper Assets Constituted Non-Business Income

more+
less-

The Alabama Supreme Court held that the sale of an Alabama paper mill and timberlands by a company in the business of the manufacture and sale of tissue and paper-related products constituted non-business income allocable to Alabama. In re: Kimberly-Clark Corporation and Kimberly-Clark Worldwide, Inc. v. Alabama Dep’t of Rev., CV-03-994 and CV-03-2157 (Feb. 26, 2010).

Background

Kimberly-Clark Corporation (Kimberly-Clark), domiciled in Texas, sold paper and paper products throughout the world. Kimberly-Clark sold a paper mill and timberlands in Alabama (the Coosa Properties) that it had acquired more than 30 years earlier. The 1997 disposition was a response to a Kimberly-Clark strategy adopted in the 1990s to reduce (but not eliminate) its dependence on internal pulp production.

Please see full alert below for more information.

LOADING PDF: If there are any problems, click here to download the file.


DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Sutherland Asbill & Brennan LLP | Attorney Advertising

Written by:

more+
less-

Sutherland Asbill & Brennan LLP on:

JD Supra Readers' Choice 2016 Awards
Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.

Already signed up? Log in here

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.
×
Loading...
×
×