General Motors v. Franchise Tax Board 7/28/04 CA2/2

State: California

Court: 1st District Court of Appeal 1st District Court of Appeal

Docket No: B165665N

Case Date: 07/28/2004

Preview:Filed 7/28/04

CERTIFIED FOR PUBLICATION IN THE COURT OF APPEAL OF THE STATE OF CALIFORNIA SECOND APPELLATE DISTRICT DIVISION TWO GENERAL MOTORS CORPORATION et al., Plaintiffs and Appellants, v. FRANCHISE TAX BOARD, [NO CHANGE IN JUDGMENT] Defendant and Appellant. B165665 (Los Angeles County Super. Ct. No. BC269404) ORDER MODIFYING OPINION AND DENYING REHEARING

THE COURT: It is ordered that the opinion filed herein June 30, 2004, be modified as follows: 1. The third sentence on page 2, beginning "We conclude that," is modified so that it reads: We conclude that, in calculating the amount of income apportionable to California, the Franchise Tax Board properly excluded returns of principal from certain securities transactions denominated as gross receipts. 2. On page 3, line 2 of the second paragraph beginning on that page, the phrase "

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