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Tag Archives: Taxation

Taxation – Personal Property – Valuation – Computer Equipment – Depreciation – Burden of Proof (access required)

In re Appeal of IBM Credit Corp. Even if we were to remand this case (for a third time), the Property Tax Commission would be well within its authority to find, yet again, that the taxpayer’s evidence is not “reliable” or “credible.” Even if the Commission rejects the taxpayer’s evidence, the taxpayer still wins because the county did not meet its burden of proof.

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Taxation – Corporate – Business Sale – Back Taxes – Buyer’s Obligation (access required)

Starnes v. Comm’r of Internal Revenue Four former owners of a trucking business who sold their stake to a company that in turn sold it to another buyer, without following through on an agreement to pay taxes the former owners owed on the sale proceeds, do not have to pay the back taxes to the IRS; the 4th Circuit upholds a Tax Court decision that the IRS could not collect from the former owners because, under the controlling state law, a creditor of the buyer company could not recover on the buyer’s company debts.

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