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Tax Court Rules Sale of Virginia State Tax Credits Was Disguised Sale

Tuesday, February 25, 2014 - 8:00AM

Yesterday, in Route 231 LLC, John D. Carr, Tax Matters Partner v. Commissioner, the United States Tax Court ruled that state tax credits are property and that, under the facts of the case, the allocation of the credits to a partner was a disguised sale.

Tune into the March 4 Tax Credit Tuesday podcast to hear more about the ruling’s significance.

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