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Hedging State Taxes

Holland & Knight LLP

Texas Franchise Taxpayers May Need to Consider Filing Protective Refund Claims

Holland & Knight LLP on

The issue of whether receipts from the sale of securities should be included in the franchise tax apportionment factor on a gross or net basis may be heard by the Texas Supreme Court after all. There are two cases, Citgo...more

Morrison & Foerster LLP

Pennsylvania Says Receipts from Hedging Transactions Are Excluded from Sales Factor

On January 4, 2019, the Pennsylvania Department of Revenue issued Corporation Tax Bulletin 2019-01 taking the position that receipts from hedging transactions, including those of a securities dealer, should be excluded from...more

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