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Internal Revenue Code (IRC) Internal Revenue Service AbbVie

Cadwalader, Wickersham & Taft LLP

AbbVie Catches a Break in Termination Fee Tax Court Case

On June 17, the U.S. Tax Court ruled that AbbVie, Inc. could deduct the fee it paid to terminate its 2014 combination agreement with Shire plc.  This decision represents a significant win for AbbVie, and it represents a...more

Holland & Knight LLP

AbbVie's Tax Triumph: Breaking Free from Capital Loss Limitations

Holland & Knight LLP on

In a significant win for taxpayers, the U.S. Tax Court recently ruled in AbbVie Inc. v. Commissioner, Docket No. 2597-23, that a $1.6 billion "Break Fee" paid by AbbVie qualifies as an ordinary and necessary business expense...more

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