US Supreme Court lets Equifax tax ruling stand
Headline Legal News
The U.S. Supreme Court said Monday that it won't hear an appeal from credit bureau Equifax Inc. involving what it considered an adverse tax ruling in Mississippi.
The appeal was a reaction to a 2013 Mississippi Supreme Court decision that Equifax had to prove that it didn't earn any taxable income in the state. The state Department of Revenue examined Equifax's income and allocated some to Mississippi, ruling it owed taxes and penalties.
The Mississippi court upheld the Revenue Department's calculation of the company's taxes based on revenue earned in Mississippi, thus increasing its tax liability from zero to over $700,000, according to court documents.
The Council on State Taxation, Georgia Chamber of Commerce and The Institute for Professionals had filed "friend of the court" briefs in the case.
Lawmakers responded during the 2014 session by passing a law to change how the state collects taxes.
A key part of the law could make it harder for the state to rule that multistate corporations are paying too little in taxes to Mississippi. It says the Department of Revenue would have to present clear and convincing proof before it could reallocate how a company splits its income among states, and only do so in "limited and unique, nonrecurring circumstances."
The Department of Revenue estimates all changes in the law, including a phase-in of lower interest rates for overdue taxes, will cost Mississippi $100 million a year.
Related listings
-
Court rejects appeal of gay jury selection case
Headline Legal News 06/25/2014A federal appeals court on Tuesday refused to reconsider its ruling granting heightened legal protections to gays and lesbians, prompting three dissenting judges to warn of far-reaching implications in same-sex marriage cases in the Western United St...
-
Court: No blanket exemption for police dashcams
Headline Legal News 06/13/2014The state Supreme Court has ruled that state dashboard cameras can't be withheld from public disclosure unless they relate to pending litigation. Five of the high court's members said Thursday that the Seattle Police Department wrongly used a state s...
-
High court won't hear California's prison appeal
Headline Legal News 06/10/2014The U.S. Supreme Court on Monday let stand a lower court ruling that California bears responsibility for nearly 2,000 disabled parolees housed in county jails. The decision could leave state taxpayers liable for problems at some of the jails, said Je...
Car Accident Lawyers in New Rochelle, New York
If you have gotten in a car accident, it could seriously change your life. Whether the accident was caused by the other party’s fault or a fault of your own, you’ll want to to make sure that you are ready to prepare yourself for any cases that might follow.
Immediately following any type of car accident, it is important to take certain steps to ensure that the courts will treat you with respect and fairly. First, assess your mental and physical condition. Make sure right after the accident, you document any information regarding the accident and situation, it can be of great help later on.
You’ll want to make sure that you seek professional help for any medical conditions you may be experiencing. Do not wait to seek medical attention, you’ll want to make sure that you have documented evidence of the injury that was caused by the accident. The amount of treatment is also taken into consideration in every case.