ORDERS:
CONSENT ORDER
This matter came before the Court from an appeal by the Petitioner, Anonymous Taxpayer,
of a final agency determination of the Respondent, the South Carolina Department of Revenue (the
“Department”) regarding the calculation of interest on an agreed refund of corporate income tax due
to Petitioner for periods prior to September 1, 1985.
A hearing was initially scheduled in this matter for December 18, 2003. This hearing date and
all discovery deadlines were postponed at the request of both parties upon their notification to the
Court that settlement negotiations were underway. The parties have now reached an agreement
resolving this matter on the following terms and conditions:
1. The Department agrees to allow tax credits against the South Carolina corporate
income tax and license fees of Petitioner in the amount of $554,244 for the tax year ending 2002,
$554,244 for the tax year ending 2003, and $554,244 for the tax year ending 2004. In the event the
tax credits are not fully utilized in any one year, they may be carried forward to future years until fully
utilized.
2. The parties further acknowledge and agree that the Petitioner has certain refund claims
pending before the Department which also relate to tax years prior to September 1, 1985. The
settlement of this matter shall not constitute a resolution of the substantive issue of the calculation
of interest for pre-September 1, 1985 tax periods and shall not be binding on either party with respect
to Petitioner’s pending claims.
Having reviewed this Agreement in Settlement and Compromise, I hereby order its
adoption and dismiss the Petitioner in this matter with prejudice.
IT IS SO ORDERED.
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MARVIN F. KITTRELL
Chief Administrative Law Judge
Columbia, South Carolina
August 8, 2003 |