Home Depot Must Add $5B To Ariz. Taxable Income, Court Says

Law360, New York (December 5, 2013, 5:43 PM EST) -- The Arizona Court of Appeals said Thursday that Home Depot USA Inc. must account for an additional $4.7 billion in taxable income, finding the retail giant's trademark holding subsidiary was a related entity subject to combined tax reporting. 

In a unanimous decision, Chief Judge Diane M. Johnsen upheld an earlier Arizona Tax Court ruling that found Home Depot and its subsidiary, Homer TLC Inc., were substantially interrelated, requiring the company to add Homer's taxable income to the Home Depot tax returns for 2000 through 2003.

"There is...
To view the full article, register now.