[Download] "Molycorp Inc. v. State Corporation Commission" by New Mexico Supreme Court * eBook PDF Kindle ePub Free
eBook details
- Title: Molycorp Inc. v. State Corporation Commission
- Author : New Mexico Supreme Court
- Release Date : January 10, 1981
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 64 KB
Description
The issue before this Court on appeal from the District Court of Santa Fe County is whether the failure of the appellant, Molycorp, Inc., to protest the assessment of franchise taxes within fifteen days of the assessment pursuant to Section 51-13-8, N.M.S.A. 1953 (Section 53-3-7, N.M.S.A. 1978, repealed 1978 N.M. Laws, ch. 139, § 24, effective January 1, 1979), barred its right to apply for and receive a refund of such taxes from the appellee, New Mexico Corporation Commission, pursuant to Section 51-13-12.1, N.M.S.A. 1953 (Section 53-3-10, N.M.S.A. 1978, repealed 1978 N.M. Laws, ch. 139, § 24, effective January 1, 1979). The district court held that the Corporation Commission was under no duty to refund to Molycorp all franchise taxes allegedly erroneously paid by Molycorp under Section 51-13-1 through 51-13-12.1, N.M.S.A. 1953 (Orig. Pamp. and Supp. 1975), since Molycorp had failed to protest the assessment of such taxes. We reverse.