Midrex Techs., Inc. v. N.C. Dep't of Revenue

2015 NCBC 88
CourtNorth Carolina Business Court
DecidedOctober 7, 2015
Docket14-CVS-13996
StatusPublished

This text of 2015 NCBC 88 (Midrex Techs., Inc. v. N.C. Dep't of Revenue) is published on Counsel Stack Legal Research, covering North Carolina Business Court primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Midrex Techs., Inc. v. N.C. Dep't of Revenue, 2015 NCBC 88 (N.C. Super. Ct. 2015).

Opinion

Midrex Techs., Inc. v. N.C. Dep’t of Revenue, 2015 NCBC 88.

STATE OF NORTH CAROLINA IN THE GENERAL COURT OF JUSTICE SUPERIOR COURT DIVISION COUNTY OF WAKE 14 CVS 13996

MIDREX TECHNOLOGIES, INC., ) Petitioner, ) ) v. ) OPINION AND ORDER ON ) PETITION FOR JUDICIAL REVIEW N.C. DEPARTMENT OF REVENUE, ) Respondent. )

THIS MATTER is before the Court on the Petition for Judicial Review of a Final

Agency Decision in this consolidated contested tax case pursuant to N.C. Gen. Stat. §§ 150B-

43 (hereinafter, references to the General Statutes will be to "G.S."). On July 21, 2015, the

Court held a hearing on the Petition for Judicial Review.

Robinson, Bradshaw & Hinson, P.A. by Thomas P. Holderness, Esq. for Petitioner Midrex Technologies, Inc.

North Carolina Department of Justice by Tenisha S. Jacobs, Esq. for Respondent North Carolina Department of Revenue.

McGuire, Judge.

A. PROCEDURAL AND FACTUAL BACKGROUND.1

1. This matter involves a dispute between Petitioner Midrex Technologies, Inc.

("Midrex" or "Petitioner") and Respondent North Carolina Department of Revenue

("Department").2 The issue before the Court is whether Petitioner is an "excluded

corporation," as that term is defined in G.S. § 105-130.4(a)(4), and therefore entitled to

apportion its in-state and out-of-state income using a single-factor apportionment formula,

1 As Administrative Law Judge Croom recognized, the facts of this case are not in dispute. Accordingly,

the Court recites the following undisputed facts. 2 The parties have, at their own expense, scanned and sequentially Bates numbered the voluminous

record in this matter, and have cited documents in the record by reference to their Bates number. The Court adopts this practice, but will also identify the document by name as it appears in the official record. as opposed to the standard three-factor apportionment formula provided in G.S. § 105-

130.4(i).3

2. Articles 3 and 4 of the North Carolina Revenue Act ("Revenue Act"), G.S. § 105-

1, et. seq., impose a State franchise tax and corporate income tax, respectively. While the

State franchise tax is measured by "the total amount of [a corporation's] issued and

outstanding capital stock, surplus and undivided profits" (collectively "Capital Stock Base"),

G.S. § 105-122(b), the corporate income tax is levied on the State net income of a C-

corporation. G.S. § 105-130.3. Notwithstanding these differences, when a corporation has

income from sources both within and outside the State, it must determine the portion of its

Capital Stock Base and State net income that is attributable to North Carolina. See G.S. §§

105-122(c)(1), 105-130.4, respectively. In the context of tax law, this determination is

commonly referred to as "allocation" and "apportionment."

3. In North Carolina, a corporation having income from business activity which

is taxable both within and without this State is required to allocate and apportion in

accordance with the provisions contained in the Act. To do so, a taxpayer must first

determine which portion of the taxpayer's entire net income constitutes apportionable

income. G.S. § 105-130.4(a)(1) defines "apportionable income" as "all income that is

apportionable under the United States Constitution." For the vast majority of corporations

with business activities in and outside of North Carolina, apportionable income is calculated

using a formula consisting of three factors: property, payroll and sales (collectively "Three-

Factor Apportionment Formula"). G.S. §105-130.4(i). Like many other states, however,

North Carolina has enacted statutes providing specialized methods of apportionment for

specific industries. One such statute is G.S. §105-130.4(r), which authorizes single factor

3 Excluded corporations apportion income based on sales only, while the standard three factor apportionment formula considers sales, property, and payroll. apportionment for an excluded corporation. For purposes of the Act, an excluded corporation

includes any corporation:

[E]ngaged in business as a building or construction contractor, a securities dealer, or a loan company or a corporation that receives more than fifty percent (50%) of its ordinary gross income from intangible property.

G.S. §105-130.4(a)(4).

Midrex's Business

4. Midrex is a corporation with its headquarters in Charlotte, North Carolina.

Midrex developed a process to convert iron ore into direct reduced iron ("DRI"), a premium

iron that could be used as a feed for making steel ("Midrex Process"). The Midrex Process

requires the construction of a specialized plant to create DRI ("Midrex Plant"). Midrex sells

Midrex Plants, which can require multiple years to design and build and cost hundreds of

millions of dollars.4 A Midrex Plant requires a vertical shaft furnace positioned in a large

structural steel tower approximately 300 to 400 feet tall, a reformer, compressors, material

handling equipment, water treatment equipment, and utility distribution equipment for air,

water, and electricity.

5. During the tax years at issue in this case, Midrex designed and sold Midrex

Plants in Trinidad and Tobago, Russia, Malaysia, Pakistan, Argentina, Oman, the United

States, Saudi Arabia, and Qatar. The sale of a Midrex Plant includes a number of components

and services. To provide these services, and to ultimately deliver a Midrex Plant, Midrex

operates in three primary business segments: (a) Engineering Services and Procurement

Services; (b) Midrex Plant Sales; and (c) After Market Sales.5

4 As noted by the ALJ, in 1983, Midrex was acquired by Kobe Steel, Ltd. ("Kobe") and, as a result of

that acquisition, Kobe became the owner of the patents and proprietary rights associated with the Midrex Process. Midrex was granted a license to use the Midrex Process, as were two other companies, Siemens VAI and SMS Siemag. See Final Decision, p. 2 ¶ 4. 5 After-Market Sales involves the provision of additional equipment and parts to an existing Midrex

Plant and is not at issue in this proceeding. 6. Midrex's engineering services play a significant, if not primary, role in the

construction and operation of a Midrex Plant. This work involves designing the various

equipment and structures that compose the Midrex Plant. This design work can take one to

two years and is largely performed at Midrex's headquarters by Midrex employees holding

job titles such as "Refractory Specialists," "Equipment Specialists," "Mechanical Engineers,"

and "Mechanical Designers." During this stage, Midrex also provides to its clients

procurement and logistical services relating to the acquisition and transportation of

equipment for Midrex Plants.

The Plant Sales Contract

7. Midrex enters into written contracts for the sale of a Midrex Plant.6 The

contract to design and manufacture a Midrex Plant generally consists of two separate

agreements: a "Purchase of Equipment and Services" agreement, and a "Technical Field

Advisory Services" agreement (hereinafter, these agreements will be referred to collectively

as the "Plant Sale Contract"). The Plant Sale Contracts include technical specifications for

the Midrex Plant, payment terms, and warranty provisions. These contracts also detail the

scope of work to be performed by each party to the contract.

8. Under these Plant Sale Contracts, a party other than Midrex, usually the client

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