Quantcast

Tag Archives: Taxation

SCV: “Add-back” exception only for income actually taxed (access required)

Rather than construing an ambiguous tax statute against the Commonwealth, the “add-back” statute intended to close a loophole – wherein a corporate entity pays royalties to an affiliated intangible holding company – required a national retail store to count such ...

Read More »

TDR Tax Assessment Premature, Court Says (access required)

Two owners of historic “garden apartment” complexes in Arlington are not liable for taxation of their TDRs, or “transferrable development rights,” granted by the county to preserve the properties until the county also approves a “receiving site” for the TDRs; ...

Read More »

Court Upholds 25-Percent Local Machinery Tax (access required)

A divided Supreme Court of Virginia upholds a commissioner of revenue’s figures for taxation of appellant refin­ery’s machinery and tools for the coun­ty’s machinery and tools tax under Va. Code § 58.2-3507(A), using a figure of 25 percent of original ...

Read More »

Company Owner Liable for Missed Payroll Taxes (access required)

The sole owner and chief executive offi­cer of an industrial construction company, who received financial information and IRS notices about the company’s failure to cover payroll taxes, and who made deci­sions about prioritizing payments to other creditors, was a “responsible ...

Read More »