Courts in Oklahoma, Michigan, and Virginia have recently issued the following state tax decisions in favor of the taxpayer:
- In the Matter of Scioto Insurance Co. (Okla. May 1, 2012): The Supreme Court of Oklahoma held that a company was not subject to Oklahoma's corporate net income tax as a result of receiving payments under a licensing contract that was not made in the State of Oklahoma and no part of which was to be performed in Oklahoma. Read the decision.
- Reynolds Metals Co. v. Dep't of Treasury (Mich. Ct. App. March 20, 2012): The Michigan Court of Appeals held that the unitary business principle applies to the Single Business Tax and that a taxpayer's gain from the sale of its interest in a foreign joint venture was not includable in the tax base since none of the elements of a unitary business were present between the taxpayer and the joint venture. Read the decision.
- Wendy's Int'l, Inc. v. Virginia Dep't of Taxation (Va. Cir. Ct. March 29, 2012): A Virginia Circuit Court held that the taxpayer was entitled to a refund of corporate income tax paid with respect to the addback of intangible expenses. Read the decision
Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.
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