Rockwood Holding Co. v. Dept. of Revenue, No. 1-98-4081
1st District, March 24, 2000
SIXTH DIVISION
| ROCKWOOD HOLDING COMPANY, Plaintiff-Appellant, v. THE DEPARTMENT OF REVENUE, Defendant-Appellee. | Appeal from the Circuit Court of Cook County. No. 96 L 50747 The Honorable John A. Ward, Presiding Judge. |
JUSTICE BUCKLEY delivered the opinion of the court:
Defendant, Illinois Department of Revenue (Department), asses-sed plaintiff, Rockwood Holding Company, with underpayment of its 1986 Illinois income taxes. Plaintiff protested the assessment, but after a hearing, the Department rejected the challenge. Then, pursuant to the Administrative Review Law (735 ILCS 5/3-101 (West 1994)), plaintiff filed a verified complaint in the circuit court of Cook County. The circuit court affirmed the Department's decision and this timely appeal followed.
On appeal, plaintiff asserts that its 1986 income has been overstated by more than $1,500,000 because its 1984 loss, which was deductible for federal purposes, was not deductible for Illinois purposes. Specifically, plaintiff seeks reversal of the circuit court's decision and contends that (1) it is entitled to alternative relief under section 304(f) of the Illinois Income Tax Act (the Act)(35 ILCS 5/101 et seq. (West 1992)); (2) its income must be adjusted so that only the net income will be taxed; (3) if the Act does not allow for any adjustment, then defendant's overstatement of plaintiff's taxable income violates the uniformity clause of the Illinois Constitution (Ill. Const. 1970, art. IX,