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IN THE SUPREME COURT OF IOWA
No. 11 / 06-0761 Filed March 21, 2008 GAYLIN R. RANNIGER and JANET L. RANNIGER, Appellants, vs. IOWA DEPARTMENT OF REVENUE AND FINANCE, Appellee. Appeal from the Iowa District Court for Crawford County, Richard J. Vipond, Senior Judge.

Taxpayers appeal district court's affirmance on judicial review of agency's denial of taxpayers' protest of income tax assessment. AFFIRMED.

James D. Lohman of Reimer, Lohman & Reitz, Denison, for appellants.

Thomas J. Miller, Attorney General, and Valencia Voyd McCown, Assistant Attorney General, for appellee.

2 TERNUS, Chief Justice. Appellants, Gaylin R. Ranniger and Janet L. Ranniger, protested an income tax assessment by the appellee, Iowa Department of Revenue and Finance, claiming entitlement to an exclusion from taxation on net capital gains from the sale of a business under Iowa Code section 422.7(21) (1999). The department denied the protest, concluding the

taxpayers were not entitled to the capital-gains exclusion because Gaylin Ranniger's sale of his interest in an accounting partnership did not qualify as "the sale of a business" under the statutory definition of that term. See Iowa Code

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