Citgo Seeks $6.4 Million Refund From Illinois in Business Income Dispute

Overview


Citgo Seeks $6.4 Million Refund From Illinois in Business Income Dispute
Tax Notes / State Tax Today, December 9, 2014

McDermott has filed a complaint on behalf of a major petroleum company, demanding that the state of Illinois refund millions of dollars the company said it paid under protest in a dispute over whether a gain it realized from the sale of its share in two pipelines is business income that the state should receive. The lawsuit contends that the gain is not taxable because the petroleum and pipeline companies do not constitute a unitary business.