ÿWPCÙ …# VUNa %¯ 0(µw@Ý4 1 @ {cH {c« 0J 0TX 0^¬ 0h 0rr 0|ä 0†` 0æ 1uv 0dë U>OB)DC¶ AMùU*F Bpãv~pvÓî D3Á 0@ô AO4ƃ 0DI D/ B¼˜HP LaserJet 4Si/4SiMX PS 600dpiPSCRIPTÀÌÀääÀÀÌ0 (ÈhH  Z 6Times New Roman RegularX($¡¡ ï Uð Uñ Uò Uó Dô Uõ Dö D÷ Ó€DÒ 3|x(;»$¡¡ÑÑÑÑÔ€Iâ¤IXXÔ(;;ï$¡¡ÑXXÑÑXXÑÔ€Iâ¤IXXÔ2 ÿÿ0Indent1Ô2ÔÔ3  Ô2" ÿÿ0Indent2à0 àÔ2ÔÔ3  Ô2, ÿÿ0Indent3à0 àà0 àÔ2ÔÔ3  Ô26 ÿÿ0Indent4à0 àà0 àà0 àÔ2ÔÔ3  Ô2@ ÿÿ0Indent5à0 àà0 àà0 àà0 àÔ2ÔÔ3  Ô2J ÿÿ0Indent6à0 àà0 àà0 àà0 àà0 àÔ2ÔÔ3  Ô2T ÿÿ0Indent7à0 àà0 àà0 àà0 àà0 àà0 àÔ2ÔÔ3  Ô2^ ÿÿ0Indent8à0 àà0 àà0 àà0 àà0 àà0 àà0 àÔ2ÔÔ3  Ô ÿÿ?AGMSYaioIndent0I.A.1.a.(1)(a)i)a)P ÿÿ8Mac DefaultMac DefaultÓ ` °šXÓ< Œ 9p`(&Times New Roman% Line 7 d!!!!7Border 1dd€-"Cþÿ << Gÿÿ< Œ 9p`(Arial d ÙÝ ƒ!ÝÔ€ ÔÝ  ÝÔ€$ÔÔ€$ÔÓ  Óò òÔ YYY ÔFILEDÔ€$XÔÌÌNovember€13,€1996ÌÌCecil€W.€CrowsonÌAppellate€Court€ClerkÔ  Ôó óPtPt HHøHÿöÿòV,(ühhØ hd'0ÿÎÿºF ® Styl{WP}01•ÃÃÃÃÃÃÃÃÃÃÃÃÃÃÃÃÃÃà Ãà Ãà Ãà Ãà ÃÃÃÃÃÃÃÃÃÃÃÐ ÐÐHHÐÐ  ÐÐ2ÐÐÿÿ¸æ$ÿÐÐHHÐÐÐÐÐÐÐÐ  ÐÐ ÐÐ ÐÑÑÑGenevaÑÑ ÑÑ € ÑÑ<Px–ÈÑÒÒÒ443!#4ÒÒ$ *$ÒÒ$*$ÒÒ ÿKK ÒÒ  Geneva ÒÒ  Geneva ÒÓ.,ÓÓÓÓ6ÓÓ ÓßßßßßßßßßßßßßßßßßßÑGenevaÑÑ ÑÒ  BA Op Geneva ÒÒ  BA Op Geneva Ò%%%%'ÿÿdxd("ÿÿ$££Ò  ÒÒ  Ò€-‚ƒCþÿ<< CÿÿƒLevel 1Level 2Level 3Level 4Level 5($$””ò òÚ  Ú1Ú  Úó ó„„'÷ÿ dxdüÿP PdÝ ƒ!ÝÔ . ÔÔ€ ÔÝ  ÝÓ  ÓÑ\R AØ'\Ñò ò›à@ àIN€THE€COURT€OF€APPEALS€OF€TENNESSEEó óÌà@ àò òWESTERN€SECTION€AT€NASHVILLEÌà àà àà àòò€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€ÌÌóóÌÌGENERAL€MOTORS€CORPORATIONà à)à àÌà àà àà àà àà àà à)à àÌà àó óPlaintiff/Appellee,ò òà àà àà à)à àó óDavidson€Equity€No.€œ87„2841„I›Ìà àà àà àà àà àà àò ò)€€€à àó óCONSOLIDATEDò òÌvs.à àà àà àà àà àà à)à à€Ìà àà àà àà àà àà à)ÌÙ€€ÙœßL€#&";+'h|h~` ç `€€Lß›DUDLEY€W.€TAYLOR,€€€€€€€€€€€€€€€€€€€à à)à àó óAppeal€No.€Ìò òCOMMISSIONER€OF€REVENUEà à)à àó ó01A01„9510„CH„00450ò òÌFOR€THE€STATE€OF€TENNESSEEà à)Ìà àà àà àà àà àà à)Ìó óà àDefendant/Appellant.à àà àò òà à)à àÌó óòòÌóóò òÌ€€€ÌÌÌà@ àó óAPPEAL€FROM€THE€CHANCERY€COURT€OF€œDAVIDSON€COUNTY›Ìà@ àAT€œNASHVILLE,€TENNESSEE›ÌÌÌÌà@ àTHE€HONORABLE€IRVIN€H.€KILCREASE,€JR.,€CHANCELLORÌòòÌÌÌFor€the€Plaintiff/Appelleeóó:òòà àà àà àFor€the€Defendant/Appellantóó:òòÌóóÌCharles€W.€Bursonà àà àà àà àFrank€N.€Stockdale€CarneyÌJoe€C.€Peelà àà àà àà àà àKatharine€A.€JungkindÌNashville,€Tennesseeà àà àà àà àMichael€R.€MarshallÌ€€€€€€€€€€€€€€€€€€€à àà àà àà àà àMemphis,€TennesseeÌÌò òÌÌÌà@ à€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€AFFIRMED€AND€REMANDEDÌÌÌÌÌà àà àà àà àà àà àó óHOLLY€KIRBY€LILLARD,€J.ÌÌÌÌCONCUR:ÌÌòòÌóóALAN€E.€HIGHERS,€J.ÌÌÌDAVID€R.€FARMER,€J.ÇØØÙ  ÙÑ7€ìÂXXdðXXdð7ÑÑ  Ñœ›à@ àò òOPINIONó óÌà@ àÌÓӜ̛à àThis€œcase›€is€appealed€to€this€Court€after€being€remanded€to€the€trial€court€by€the€TennesseeÏSupreme€Court€in€ò òòòGeneral€Motors€Corp.€œv.›€Tayloró óóó,€811€S.W.2d€897€(Tenn.€1991)Ï(hereinafter€ð ðò òòòGeneral€Motors€Ió óóóðð).€€œPlaintiff/Appellee›€General€Motors€Corporation€(ð ðGeneralÏMotorsðð)€filed€the€lawsuit€seeking€a€refund€of€corporate€excise€taxes.€€In€this€appeal,€theÏœDefendant/Appellant›€Commissioner€of€Revenue€(ð ðCommissionerðð)€contends€that€General€MotorsÏdoes€not€have€standing€and€has€not€met€the€procedural€prerequisites€to€its€claim€for€a€refund.€€TheÏtrial€court€found€that€General€Motors€fulfilled€the€procedural€requirements€and€that€General€MotorsÏwas€entitled€to€the€refund€it€sought.€€€We€affirm.€€Ìà àGeneral€Motors€filed€tax€returns€with€the€State€of€Tennessee€for€the€years€1982,€œ1983,›€andÏ1984.€€Taxes€for€those€years€were€paid€as€œstated›€on€the€œreturns.€€They€were›€not€paid€under€protest.€ÏIn€œ1986€and€1987,›€the€Commissioner€audited€General€Motorsðð€œtax€returns›€for€the€years€1982,Ïœ1983,›€and€œ1984.€€òòò òGeneral€Motors€Ió óóó,€811€S.W.2d€at€898.Ìà àGeneral›€Motors€had€reported€a€net€operating€loss€of€nearly€œsix›€œmillion›€œdollars€for›€1982.€ÏAfter€conducting€the€audit,€the€Commissioner€reduced€the€net€operating€loss€to€zero.€€TheÏCommissioner€determined€that€General€Motors€had€overpaid€its€1982€œtaxes›€and€had€underpaid€œitsÏ1983€and€1984›€taxes.€€The€1982€overpayment€was€applied€against€the€additional€tax€liabilityÏassessed€for€1983€and€1984.€€After€the€overpayment€was€distributed,€there€remained€an€additionalÏtax€liability€of€$82,522€for€1984,€which€consisted€of€$47,284€in€taxes€and€$35,238€in€interest.€ÏThe€œ1987€assessment›€was€calculated€as€follows:ÌÓÓœà8 à›à àà àLiability€as€shown€à àLiability€per€à àà àIncrease€or€(decrease)Ìòòœà8 àYearóó›à àà àòòon€GMððs€returnóó€€à àòòAuditóóà àà àà àòòper€Auditóó€Ìœà8 à1982›à àà à$€€€€€€46,169à à€€€€€à à$€€€€€€46,117à àà à$€€€€€€€€€(52)Ìœà8 à1983›à àà à$€€€€670,191à à€€€à à$€€€€586,549à àà à$(101,642)€€€€€€€€€€€€à à€Ìœà8 à1984›à àà à$€1,274,034à àà à$1,423,012à àà à$€148,978Ìœà8 àCombined›à à$€1,990,394à àà à$2,037,678à àà à$€€€œ47,284ÌÌÓÓòòò òSee€id.ó óóó›Ìà àIn€June,€1987,€General€Motors€paid€the€$82,522€œassessment€›€and€simultaneously€filed€aÏclaim€for€a€refund€for€tax€years€1982,€œ1983,›€and€1984.€€The€Commissioner€denied€the€claim€forÍrefund€œin›€œ1987,›€and€General€Motors€filed€this€lawsuit.€€œòòò òId.ó óóó€€In›€its€complaint,€General€MotorsÏsought€a€refund€of€the€1982€$101,642€œoverpayment,›€which€was€applied€to€the€1984€underpaymentÏof€taxes,€as€well€as€the€additional€tax€liability€of€$82,522€for€1984.€€œòòò òId.ó óóó€at€899.€€The›ÏCommissioner,€relying€on€Tenn.€œÌÌÌCode›€Ann.€ðð€67„1„1807,€€moved€to€dismiss€the€complaint€on€the€grounds€that€the€trial€court€lackedÏsubject€matter€œjurisdiction€because›€General€Motors€did€not€pay€the€1982,€œ1983,›€and€1984€taxesÏunder€protest.€€Under€Tenn.€Code€Ann.€ðð€67„1„1807,€recovery€of€refunds€for€taxes€paid€prior€toÏJanuary€1,€1986,€would€be€governed€by€the€laws€as€they€existed€in€1985.€€The€law€at€that€timeÏrequired€that€the€taxes€be€paid€under€protest€in€order€for€the€taxpayer€to€later€apply€for€a€refund.€ÏHowever,€for€taxes€paid€after€January€1,€1986,€payment€of€taxes€under€protest€was€not€a€conditionÏprecedent€to€a€suit€for€recovery€of€the€taxes.€€The€trial€court€granted€the€Commissionerððs€motion€toÏdismiss€for€lack€of€subject€matter€jurisdiction,€and€the€case€was€ultimately€appealed€to€theÏTennessee€Supreme€œCourt.€€òòò òId.ó óóó€at€898.€€The›€Tennessee€Supreme€Court€rendered€its€decision€onÏJune€10,€1991.€€œòòò òId.óóó ó€at€897.›Ìà àIn€ò òòòGeneral€Motors€Ióóó ó,€the€Supreme€Court€held€that€the€$101,642€overpayment€of€theÏ1982€taxes,€applied€to€the€1984€underpayment€of€taxes,€could€not€be€recovered€because€thisÏamount€was€not€paid€under€protest€and€was€not€paid€ð ðon€or€after€January€1,€1986,ðð€as€requiredÏunder€Tenn.€Code€Ann.€ðð€67„1„1807(b).€€However,€as€to€the€additional€liability€of€$82,522Ïassessed€in€the€1987€œaudit›€and€paid€in€œ1987,›€the€Court€found€that€subject€matter€jurisdictionÏexisted.€€œòòò òId.ó óóó€at€899.€€Accordingly,›€General€Motors€was€entitled€to€pursue€its€claim€for€a€refund€ofÏthe€œamounts›€paid€in€1987:ÌÓÓœà8 àShould›€General€Motors€prevail€œon›€the€substantive€issues€raised€in€its€claim€for€aÏrefund€of€1982,€œ1983,›€and€1984€taxes,€its€recovery€of€such€taxes€will€be€limited€toÏ$47,284,€plus€interest€thereon€in€the€amount€of€$35,238€paid€by€General€Motors€onÏJune€29,€1987,€plus€additional€interest€thereon€accruing€subsequent€to€suchÏpayment€pursuant€to€T.C.A.€ðð€67„1„1803(b).€€Ìà àà àÌò òòòœId.€ó óóóat›€900.€€ÓÓThe€Supreme€Court€remanded€the€cause€to€the€chancery€court€for€a€hearing€on€theÏsubstantive€issues.€€ò òòòId.ó óóó€Ìà àœThe›€Supreme€Court€issued€œanother›€decision€affecting€the€issues€in€this€case.€€€ò òòòSouthernÏRy.òòóóó ó€ò òòòóóCo.€v.€Tayloróóó ó,€812€S.W.2d€577€(Tenn.€œ1991),›€discussed€the€interpretation€of€Tenn.€CodeÏAnn.€ðð€67„4„805€and€Tenn.€Comp.€R.€&€Regs.€1320„6„1„.21.€€The€facts€in€ò òòòSouthern€Railwayó óóóÏinvolved€the€calculation€of€net€operating€loss€in€the€same€manner€that€the€Commissioner€calculatedÏGeneral€Motorsðð€1982€and€1983€net€operating€loss€in€the€1987€audit,€including€application€of€theÏsame€statutes€and€regulations.€Tenn.€Code€Ann.€ðð€67„4„805€allowed€a€deduction€from€a€taxpayerÏcompanyððs€net€income€equal€to€100%€of€dividends€received€from€a€subsidiary€corporation€ofÏwhich€the€taxpayer€company€owned€80%€or€more€of€the€outstanding€stock.€€œò òòòId.óóó ó€at€578.€€However,›ÏTenn.€œÌÌÌComp.›€R.€&€Regs.€1320„6„1„.21(a)€provided€that€there€be€added€to€a€companyððs€net€operating€lossÏœfor›€excise€tax€purposes€all€nonbusiness€earnings,€including€dividends€otherwise€excluded€from€netÏearnings€under€Tenn.€Code€Ann.€ðð€œ67„4„805.€€òòò òId.ó óóó€at€579.›Ìà àSouthern€Railway€had€claimed€on€its€1984€tax€return€a€net€operating€loss€carryover€basedÏon€its€œlosses€in€1981,›€œ1982,›€and€œ1983.›€€In€calculating€the€net€operating€loss€œfor€each€of›€these€years,ÏSouthern€Railway€did€not€add€to€its€ð ðnet€earningsðð€for€the€three€years€in€question€the€dividends€itÏreceived€from€corporations€of€which€Southern€Railway€owned€80%€or€more€of€the€outstandingÏshares.€€œòòò òId.ó óóó€at€578.€€In›€a€1986€audit,€the€Commissioner€reduced€Southern€Railwayððs€net€operatingÏloss€by€adding€to€its€net€earnings€the€value€of€these€dividends,€pursuant€to€Tenn.€Comp.€R.€&ÏRegs.€1320„6„1„.21.€€œòòò òSee€id.ó óóó€at€578„79.€€The›€Supreme€Court€held€that€the€Commissioner€couldÏnot€reduce€Southern€Railwayððs€net€operating€loss€carryover€by€adding€to€its€net€earnings€dividendsÏreceived€from€subsidiaries€of€which€Southern€Railway€owned€80%€or€more€of€the€outstandingÍœshares€because›€this€would€be€inconsistent€with€the€statutory€deduction€set€forth€in€Tenn.€CodeÏAnn.€ðð€œ67„4„805(b)(2)(C).›€€œòòò òId.ó óóó€at€579„80.€€Consequently,›€the€Court€declared€void€Tenn.€Comp.ÏR.€&€Regs.€1320„6„1„.21(a).€€€Therefore,€the€deduction€for€dividends€from€80%€subsidiaries,€aÏpermissible€deduction€in€computing€ð ðnet€earnings,ðð€would€also€be€an€allowable€deduction€inÏcomputing€ð ðnet€operating€lossðð€under€Tenn.€Code€Ann.€ðð€œ67„4„805(b)(2)(C).›€€œò òòòId.€ó óóóat›€œ580.›Ìà àAccordingly,€in€ò òòòSouthern€Railwayó óóó,€the€Court€found€that€the€manner€of€calculating€netÏoperating€loss€œused›€by€the€Commissioner€was€impermissible€since€it€was€inconsistent€with€expressÏstatutory€œdeductions›€and€œthat,›€as€a€œresult,›€Southern€Railway€was€entitled€to€a€refund.€€ò òòòId.ó óóó€€ThisÏmethod€of€calculating€net€operating€loss€was€also€œused›€by€the€Commissioner€in€its€1987€audit€ofÏGeneral€Motors,€on€which€General€Motors€sought€a€refund.€€Ìà àIn€1991,€the€Tennessee€legislature€amended€Tenn.€Code€Ann.€ðð€67„4„805(b)(2)(C)(ii)€toÏadd€the€following:ÌÓÓœà8 àà à(ii)€€There›€shall€be€added€to€the€net€loss€as€determined€for€excise€taxÏpurposes,€all€nonbusiness€earnings,€all€interest,€dividends€excluded€from€netÏearnings€pursuant€to€this€section€and€any€other€income€excluded€from€net€earningsÏpursuant€to€this€section.€€€Ìà àà àÌÓÓœTenn.€Code€Ann.€ðð€67„4„805(b)(2)(C)(ii)€(1994€&€Supp.€1996);€1991›€Tenn.€Pub.€Acts€503,€œðð›€7.€ÏTherefore,€the€amended€statute€ð ðundidðð€the€ruling€in€ò òòòSouthern€Railwayó óóó€by€providing€thatÏdividends€œÌÌÌreceived›€from€80%€subsidiaries€could€be€added€back€to€the€net€operating€loss,€consistent€with€theÏcalculation€œused›€by€the€Commissioner€in€its€1987€audit€of€General€Motors.€€However,€theÏlegislature€opened€a€small€window€for€those€seeking€refunds€for€excise€taxes€paid€prior€to€theÏeffective€date€of€the€amendment.€€The€amendment€required€that€those€seeking€such€refunds€file€aÏrefund€claim€within€œthirty›€days€of€the€effective€date€of€the€amendment,€June€28,€1991.€€òòò òSeeó óóó€1991ÏTenn.€Pub.€Acts€œ503,€ðð›€8.€Ìà àGeneral€Motors€paid€the€$82,522€excise€tax€assessment€prior€to€the€effective€date€of€theÏ1991€Act.€€General€Motors€paid€these€taxes€in€1987€based€on€1984€earnings,€which€had€beenÏassessed€in€the€1987€audit.€€General€Motors€asserted€that€it€would€not€have€had€to€pay€the€$82,522Ïassessment€had€the€Commissioner€not€calculated€the€1982€and€1983€net€operating€loss€in€the€sameÏmanner€that€the€Supreme€Court€declared€void€in€œòòò òSouthern›€œRailwayó óóó.›€€Therefore,€General€MotorsÏfiled€a€refund€claim€with€the€Commissioner€on€July€25,€1991,€within€œthirty›€days€of€the€effectiveÏdate€of€the€1991€amendment.€€The€Commissioner€denied€General€Motorsðð€refund€claim.€ÏFollowing€the€denial€of€the€refund€claim,€General€Motors€filed€a€lawsuit€in€the€Davidson€CountyÏChancery€Court.€€That€suit€was€consolidated€with€the€instant€proceeding,€which€was€on€remandÏfrom€œthe€Tennessee›€Supreme€Court.€€à àSubsequently,€there€was€a€bench€trial€of€the€consolidatedÏaction.€€In€its€Opinion,€the€trial€court€concluded€œthat,›€in€light€œofòòò ò€Southern›€œRailwayó óóó,›€theÏCommissioner€could€not€enforce€Tenn.€Comp.€R.€&€Regs.€1320„6„1„.21(a)€so€as€to€requireÏdividends€excluded€from€net€earnings€to€be€added€back€into€the€calculation€of€net€operating€losses.€ÏAt€trial,€the€Commissioner€had€also€asserted€that€General€Motors€was€precluded€from€seeking€aÏrefund€by€operation€of€the€statute€of€limitations.€€However,€the€trial€court€determined€that€1991ÏTenn.€Pub.€Acts€503€waived€any€statute€of€limitations€for€refunds€so€long€as€the€refund€claim€wasÏfiled€within€œthirty›€days€of€the€effective€date€of€Chapter€503.€€Since€General€Motors€filed€its€refundÏclaim€within€this€window€of€time,€the€trial€court€held€that€General€Motors€was€entitled€to€a€refundÏof€the€$82,522€additional€liability€assessed€in€the€1987€audit,€plus€interest€and€attorneyððs€fees.€ÏFrom€this€ruling,€the€Commissioner€appeals.€€ò ò€ó óÌà àIn€this€appeal,€the€Commissioner€asks€this€Court€to€consider€whether€a€taxpayer€can€seekÏrecovery€of€1983€excise€tax€overpayments€paid€without€protest€in€1983€and€1984€by€claiming€aÏð ðcredit€carryoverðð€of€those€payments€against€a€tax€liability€assessed€after€January€1,€1986,€the€œÌÌÌeffective›€date€of€Tenn.€Code€Ann.€ðð€67„1„1802.€€The€Commissioner€also€contends€that€the€trialÍcourt€erred€in€holding€that€1991€Tenn.€Pub.€Acts€503,€œð𛀜8,›€authorized€a€taxpayer€to€claim€creditÏcarryovers€for€tax€years€which€were€barred€by€the€limitations€period€in€Tenn.€Code€Ann.€ðð€67„1„1802.€Ìà àThe€Commissioner€argues€that€General€Motors€cannot€pursue€the€refund€of€the€$82,522Ïœassessment›€because€Tenn.€Code€Ann.€ðð€67„1„1802€does€not€permit€a€refund€of€€tax€payments€paidÏprior€to€January€1,€1986,€if€not€paid€under€protest.€€Indeed,€the€Tennessee€Supreme€Court€held€inÏòòò òGeneral€Motors€Ió óóó€that€General€Motors€could€not€seek€recovery€of€a€$101,642€overpaymentÏfrom€œ1983›€because€such€amount€was€not€paid€under€protest.€€However,€the€refund€General€MotorsÏseeks€in€the€amount€of€$82,522€arises€from€the€assessment€it€paid€in€1987.€€While€this€liabilityÏrelates€to€General€Motorsðð€1984€taxes,€the€refund€sought€is€only€for€the€$82,522€assessed€in€1987Ïand€not€for€payments€made€in€prior€years.€€General€Motors€was€not€required€to€pay€under€protestÏthe€1987€assessment€in€order€to€later€seek€a€refund.€€The€Tennessee€Supreme€Court€held€thatÏGeneral€Motors€is€entitled€to€bring€suit€to€recover€the€1987€assessment.€€òòò òGeneral€Motors€Ió óóó,€811ÏS.W.2d€at€900.€Ìà àThe€Commissioner€asserts€on€appeal€that€the€Chancellor€committed€reversible€error€inÏholding€that€1991€Tenn.€Pub.€Acts€œ503›€waived€the€limitations€period€for€refund€claims€underÏTenn.€Code€Ann.€ðð€67„1„1802€and€thereby€authorized€refund€claims€for€periods€prior€to€January€1,Ï1986.€€Section€8€of€Chapter€503€provides€as€follows:ÌÓÓœà8 àà àSECTION€8.€€Notwithstanding›€the€provisions€of€Tennessee€CodeÏAnnotated,€Section€67„1„1802,€no€excise€tax€paid€prior€to€the€effective€date€of€thisÏact€which€is€attributed€to€the€addition€to€the€net€loss€of€nonbusiness€earnings,Ïinterest,€dividends€excluded€from€net€earnings€pursuant€to€Section€67„4„805€andÏany€other€income€excluded€from€net€earnings€pursuant€to€Section€67„4„805€shall€beÏrefunded€unless€a€properly€documented€refund€claim€is€œfilled€[sic]›€within€thirty€(30)Ïdays€after€the€effective€date€of€this€act.€€ÌÌÓÓ1991€Tenn.€Pub.€Acts€503,€œðð›€8.€€€After€considering€the€Commissionerððs€argument,€the€œtrial€court›Ïruled€as€œfollows:›ÌÓÓœà8 àà àThe›€defendant€also€asserts€that€the€statute€of€limitations€bars€the€recovery€ofÏthis€refund.€€Chapter€503€waived€any€statute€of€limitations€for€refunds€so€long€asÏthe€refund€claims,€based€on€the€holding€in€òòSouthern€Railwayóó,€were€filed€withinÍthirty€days€of€the€effective€date€of€Chapter€503.€€ÌœÌÓÓMem.›€Op.€at€œ3.›€€The€Act€clearly€anticipates€claims€for€refund€based€on€the€ò òòòSouthern€Railwayó óóóÏruling€and€provides€a€window€of€time€for€such€claims€to€be€filed.€€The€Act€states€that€the€windowÏof€time€for€claims€is€provided€ð ð[n]otwithstanding€the€provisions€of€Tennessee€Code€Annotated,ÏSection€œ67„ÌÌÌ1„1802.ðð€€1991€Tenn.€Pub.€Acts€503,€ðð€8.€€The›€interpretation€of€the€trial€court€is€consistent€withÏthe€language€of€the€Act.€€It€is€undisputed€that€General€Motors€filed€a€claim€for€refund€on€theÏpayment€at€issue€within€the€thirty„day€window€of€time.€€Therefore,€the€decision€of€the€trial€court€onÏthis€issue€is€affirmed.€Ìœ›à àFinally,€the€trial€court€held€that€General€Motors€was€entitled€to€a€refund€of€the€$82,522Ïadditional€tax€liability€assessed€in€the€audit€conducted€in€œ1986€and€1987›€of€General€MotorsððÏfranchise/excise€tax€returns€for€1982,€œ1983,›€and€1984.€€In€the€audit,€the€Commissioner€refused€toÏpermit€General€Motors€to€apply€the€1982€net€operating€loss€of€nearly€œsix›€œmillion€dollars›€to€reduceÏGeneral€Motorsðð€taxable€income.€€Applying€Tenn.€œComp.›€R.€&€Regs.€1320„6„1„.21(2)(a),€theÏCommissioner€added€back€to€General€Motorsðð€net€operating€income€dividends€from€80%€or€moreÏowned€subsidiaries€and€œnonbusiness›€income.€€This€reduction€eliminated€General€Motorsðð€netÏoperating€loss€and€increased€General€Motorsðð€tax€liability€for€1984.€€General€Motors€paid€theÏ$82,522€assessment€in€June,€1987,€and€pursuant€to€the€Wilder€Act,€Tenn.€Code€Ann.€ðð€67„1„1801Ïòòò òet€seq.ó óóó,€General€Motors€timely€filed€its€claim€for€a€refund.€€In€ò òòòGeneral€Motors€Ió óóó,€theÏTennessee€Supreme€Court€held€that€General€Motors€was€not€required€to€make€œthis€payment›€underÏprotest€in€order€to€preserve€its€rights€to€a€refund.€€It€stated€œthat,›€if€General€Motors€could€prevail€onÏthe€substantive€issues,€it€could€recover€as€a€refund€the€1987€assessment.€€Ìà àAs€discussed€above,€in€òòò òSouthern€Railway€v.€Tayloró óóó,€812€S.W.2d€577,€579€(Tenn.Ï1991),€the€Tennessee€Supreme€Court€held€that€the€Commissioner€could€not€apply€Tenn.€Comp.€R.Í&€Regs.€1320„6„1„.21(2)(a)€to€reduce€Southern€Railwayððs€net€operating€loss€carryover€by€addingÏback€dividends€from€80%€or€more€owned€subsidiaries.€€To€do€so€would€be€in€contravention€ofÏTenn.€Code€Ann.€ðð€œ67„4„805(b)(2)(C).›€€The€Court€held€that€the€administrative€rule€wasÏœinconsistent›€with€the€œstatute€and€was€therefore€void.€€ò òòòId.ó óóó€at€580.€€›Ìà àòòò òSouthern€Railwayó óóó€governs€the€substantive€issue€in€this€cause.€€The€1987€assessment€isÏnot€a€ð ðcredit€carryoverðð;€rather,€it€is€an€additional€audit€payment€levied€and€paid€in€1987,€after€theÏJanuary€1,€1986,€effective€date€of€the€Wilder€Act.€€Applying€ò òòòSouthern€Railwayó óóó€to€the€facts€inÏthis€case,€we€find€that€General€Motors€is€entitled€to€a€refund€of€the€$82,522€assessment€paid€inÏ1987,€plus€interest€and€attorneyððs€fees.€€Therefore,€the€trial€court€is€affirmed€on€this€issue.€Ìœ›à àThe€decision€of€the€trial€court€is€affirmed.€€The€cause€is€remanded€to€the€trial€court€forÏdetermination€of€the€amount€of€interest€and€attorneyððs€fees.€€Costs€are€assessed€against€theÏAppellant,€for€which€execution€may€issue€if€necessary.€€€€€ÌÌÓÓà àà àà àà àà àà àòò€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€Ìà àà àà àà àà àà àò òóóHOLLY€KIRBY€LILLARD,€J.ÌÌÌCONCUR:ÌÌòòÌ€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€ÌóóALAN€E.€HIGHERS,€J.ÌÌÌòòÌ€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€€óóÌDAVID€R.€FARMER,€J.ó ó