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Results: 1-8 of 8

Texas Supreme Court rejects equal and uniform arguments against the Texas franchise tax

  • Baker Botts LLP
  • -
  • USA
  • -
  • October 19 2012

Today, the Texas Supreme Court issued its much anticipated opinion in In Re Nestle USA, Inc., Relator

Texas tax amnesty reminder

  • Baker Botts LLP
  • -
  • USA
  • -
  • August 3 2012

A reminder that the Texas tax amnesty program, Project Fresh Start, concludes two weeks from today on Friday, August 17, 2012

New Delaware unclaimed property developments

  • Baker Botts LLP
  • -
  • USA
  • -
  • July 13 2012

The Delaware Legislature recently passed a bill allowing many unclaimed property holders not currently complying with Delaware's unclaimed property laws to voluntarily disclose their liabilities to the Secretary of State instead of Delaware's Escheator

Texas Comptroller franchise tax policy change

  • Baker Botts LLP
  • -
  • USA
  • -
  • June 21 2012

The Texas Comptroller has changed its policy and will now allow taxpayers to amend their method of computing margin to elect the cost of goods sold ("COGS") or compensation deduction after the franchise tax report due date

Travis County District Court reversal: oil & gas production equipment is subject to sales tax

  • Baker Botts LLP
  • -
  • USA
  • -
  • May 1 2012

On April 11, 2012, Judge John Dietz (Travis County's 250th District Court) ruled from the bench that oil and gas production equipment is eligible for Texas's sales tax exemption for property used in manufacturing (Southwest Royalties Inc. v. Combs, D-1-GN-09-004284

Oil & gas extraction equipment could be exempt from sales tax

  • Baker Botts LLP
  • -
  • USA
  • -
  • April 13 2012

On Wednesday, April 11, Travis County's 250th District Court ruled that well machinery and oil and gas extraction equipment are eligible for Texas's sales tax exemption for property used in manufacturing (Southwest Royalties Inc. v. Combs, D-1-GN-09-004284

Reporting requirements: temporary credit for business loss carryforwards

  • Baker Botts LLP
  • -
  • USA
  • -
  • November 16 2011

Texas franchise tax credits generated by business loss carryforwards under the prior franchise tax may need action to preserve them

Supreme Court declines to review case affirming Iowa’s right to impose state income taxes on out-of-state franchisor

  • Baker Botts LLP
  • -
  • USA
  • -
  • October 7 2011

This week’s decision by the United States Supreme Court to decline review of KFC Corp. v. Iowa Department of Revenue is almost certain to be received by other states as a tacit approval of the imposition of state income taxes on out-of-state franchisors, even where franchisors do not have property or employees in the state