05/03/93 Union Carbide Corporation V. Joe B‪.‬

The question we are asked to decide in this direct excise tax appeal is whether or not the taxpayer's capital gains in 1986 from the sale of assets constituted "business earnings," as defined in Tenn. Code Ann. § 67-4-804(a)(1) *fn1 Relying on General Care Corp. v. Olsen, 705 S.W.2d 642 (Tenn. 1986), the Chancellor found that the taxpayer's 1986 capital gains were "nonbusiness earnings," and therefore not taxable in Tennessee. We agree and affirm.