Court Overturns $101M Tax Refund To Texaco
Areas of Focus | 2008/06/17 16:13
The 9th Circuit rejected Texaco's bid for a $101 million tax refund on the $1.25 billion settlement it paid the government for selling oil and gas above the price ceilings set by federal regulations.

The judges reversed judgment for Texaco, now a subsidiary of ChevronTexaco Corp., ruing that the tax benefit on repayment applies to public utilities only, not private companies such as Texaco.

Texaco had overcharged for crude oil and oil products from 1973 to 1981. After a series of administrative actions, the Department of Energy agreed to the settlement. Texaco made the payments and deducted the settlement amount on its federal income tax returns for those years, then filed refund claims for 1988, 1990, 1991 and 1992.

The appellate judges reinstated the government's denial of the refund claims on the grounds that federal tax law "plainly precludes" Texaco from recouping some of the money.


[PREV] [1] ..[1686][1687][1688][1689][1690][1691][1692][1693][1694].. [1813] [NEXT]
All
Headline Legal News
Legal Topics
Legal Business
Attorney News
Court News
Court Watch
Areas of Focus
Legal Interview
Opinions
Court: Colorado county wrongly OK..
Court: Stress no grounds for resc..
Trappers ask court to throw out l..
Belgian court pushes back extradi..
The Latest: Senate panel approves..
Steve Mostyn, Houston attorney an..
German Court: Kuwait Airways Can ..
Free Speech Is Starting to Domina..
Court gives go-ahead for minimum ..
Feds head to court to seek dismis..
Kenya court set to hear petitions..
Trump choosing white men as judge..
Samsung worker killed by brain tu..
Florida man back at Supreme Court..
High court to hear appeal in Newt..
Top German court strengthens inte..
Human rights group accuses Guatem..
Telescope permit decision appeale..
Michigan health chief back in cou..
US court bars Trump from reversin..




San Francisco Trademark Lawyer
San Francisco Copyright Lawyer
www.onulawfirm.com
Lorain Elyria Divorce Lawyer
www.loraindivorceattorney.com
Chicago Business Law Attorney
Corporate Litigation Attorneys
www.rothlawgroup.com
Houston Estate Administration Lawyer
www.trishaenglishlaw.com
Car Accidents Attorneys
New Rochelle Personal Injury
www.kboattorneys.com
Surry County Criminal Defense Lawyers
Yadkin County Family Law Attorneys
www.dirussolaw.com
Cobb County Criminal Attorney
Georgia Criminal Defense Lawyer
www.andrewschwartzlaw.com
Santa Ana Workers' Compensation Lawyers
www.gentryashtonlaw.com
Connecticut Special Education Lawyer
www.fortelawgroup.com
Law Firm Web Design Templates
Lawyer Website Templates
www.webpromo.com
   Legal Resource
Headline Legal News for You to Reach America's Best Legal Professionals. The latest legal news and information - Law Firm, Lawyer and Legal Professional news in the Media.
 
 
 
Copyright © ClickTheLaw.com. All Rights Reserved. The content contained on the web site has been prepared by Click The Law. as a service to the internet community and is not intended to constitute legal advice or a substitute for consultation with a licensed legal professional in a particular case or circumstance. By using the www.clickthelaw.com you agree to be bound by these Terms & Conditions.

Law Firm Website Design by Lawyer Website Design Blog - Lawyer Web Site Design That Works