FOR IMMEDIATE NEWS RELEASE

NEWS RELEASE # 69

FROM: CLERK OF SUPREME COURT OF LOUISIANA

The Opinion handed down on the 5th day of September, 2001 , is as follows:

BY CALOGERO, C.J. :

2000-C- 3518 ELEVATING BOATS, INC. v. PARISH OF ST. BERNARD, ET AL. (Parish of St. Bernard)

For the foregoing reasons, we reverse the court of appeal's judgment and reinstate the district court's judgment that the sales and use tax obligations of Elevating Boats, Inc. to St. Bernard Parish, including an annual interest penalty, is not prescribed. We further reverse the court of appeal's judgment and reinstate the district court's judgment that Elevating Boats is a retailer for occupational license tax purposes; however, we find that the occupational license taxes prior to 1991 are prescribed. Finally, we find that an inter-parish credit is not due Elevating Boats, Inc. This matter is remanded to the district court with instructions to enter a judgment in favor of Elevating Boats, Inc. against the Parish of St. Bernard for the difference between the $1,956,805.00 paid under protest and the past due taxes owed including 15% annual interest penalty. Finally, the district court should allocate the costs of these proceedings equally between the parties.

COURT OF APPEAL JUDGMENT REVERSED; DISTRICT COURT JUDGMENT REINSTATED IN PART; CASE REMANDED TO THE DISTRICT COURT.

Retired Judge Robert L. Lobrano, assigned as Justice Pro Tempore, sitting for Associate Justice Harry T. Lemmon; Judge Felicia Toney Williams, of the Second Circuit Court of Appeal, assigned as Justice Pro Tempore, sitting for Associate Justice Bernette J. Johnson.

VICTORY, J., dissents in part and assigns reasons .