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REL: 12/19/2008

Notice: This opinion is subject to formal revision before publication in the advance sheets of Southern Reporter. Readers are requested to notify the Reporter of Decisions, Alabama Appellate Courts, 300 Dexter Avenue, Montgomery, Alabama 36104-3741 ((334) 229-0649), of any typographical or other errors, in order that corrections may be made before the opinion is printed in Southern Reporter.

ALABAMA COURT OF CIVIL APPEALS
OCTOBER TERM, 2008 -2009

_________________________ 2070768 _________________________ Alabama Department of Revenue v. Jim Beam Brands Company, Inc. Appeal from Montgomery Circuit Court (CV-04-1535) MOORE, Judge. This is a corporate-income-tax case. undisputed. The facts are

Jim Beam Brands Company, Inc., is a multistate

corporation doing business in Alabama. Jim Beam filed amended Alabama corporate tax returns for the 1993 and 1994 tax years.

2070768 In those amended returns, deductions Jim Beam claimed to additional its Alabama

interest-expense

attributable

business activities. the Alabama

After auditing those amended returns, of Revenue ("the Department")

Department

disallowed the interest-expense deductions claimed by Jim Beam, asserting that Jim Beam had incorrectly apportioned its interest-expense deductions to Alabama. The Department

claimed that Jim Beam had incorrectly used the "gross-incomeratio" formula, pursuant to the version of

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Alabama Law