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Home / Courts / Taxation – Corporate – Restructuring – New Subsidiary – ‘True Revenue’ – Consolidated Return – 25% Penalty (access required)

Taxation – Corporate – Restructuring – New Subsidiary – ‘True Revenue’ – Consolidated Return – 25% Penalty (access required)

Delhaize America, Inc. v. Lay (Lawyers Weekly No. 11-15-0091, 37 pp.) (Ben Tennille, J.) N.C. Bus. Ct. Click here to read the full text of the opinion. Holding: The plaintiff-corporation restructured itself solely for the purpose of decreasing its state income tax obligation; the defendant Department of Revenue had the authority to require plaintiff to file ...

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