In calculating Arizona net operating loss carryforward in a merger; Is the exclusion of in-state municipal bonds, unconstitutional?

Net operating loss carryforward and continuity of business enterprise; municipal bond interest.

Whether Arizona has sufficient nexus to tax income from an out-of-state franchisor that receives license and royalty fees from Arizona franchisees.

Tax credit study was not based on sufficient evidence to prove entitlement to an increased research and development credit.

Taxpayer not allowed research and development credit, under A.R.S. 43-1168, where the Taxpayer relies on unsubstantiated estimates of research expenditures from an acquired company in years preceding the acquisition of such company to calculate the credit.

Gain from a §338(h)(10) sale of a subsidiary should be treated as business income

Sourcing of slot machine owner’s receipts for sales factor purposes.  Whether placing machines in casinos was rental of personal property.

Calculation of the enterprise zone credit amount

To claim an enterprise zone credit the taxpayer must be the employer.

Taxpayer did not use its investment account in its regular trade or business so its investment income was not business income. Reimbursement of shared business expenses from a co-tenant was business income.