Deduction

Eleventh Circuit Judge Questions New Arguments in Georgia Conservation Easement Tax Deduction Appeal

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A judge in Atlanta, Georgia, recently expressed skepticism regarding a partnership’s renewed appeal for a tax deduction tied to a conservation easement donation. The Eleventh Circuit’s ruling came as the partnership sought to bolster its claims, presenting new arguments that raised questions about the integrity of their previous assertions. During the proceedings, the judge indicated that the partnership’s attempt to introduce fresh arguments could complicate its case. The ongoing debate revolves around the eligibility for tax deductions related to land conservation efforts, a subject that has seen its share of scrutiny in recent years. Tax … Read more

North Carolina Supreme Court Debates Tribunal’s Power in Philip Morris Tax Deduction Case

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Raleigh, North Carolina — In a recent session of the North Carolina Supreme Court, justices expressed skepticism regarding the authority of the state’s executive branch tribunal, specifically whether it could adjudicate constitutional challenges against statutory decisions. This case has caught significant attention due to its potential implications on state power dynamics and tax law interpretations. The controversy centers on Philip Morris USA Inc., a major tobacco company, which is disputing the state’s denial of its tax deduction claims related to loans made to an affiliate. The denial was based on current statutes, but the company … Read more