Retailer Seeks $2M Refund For Katrina-Related Tax Break

Law360, New York (December 11, 2013, 3:32 PM EST) -- Louisiana-based home improvement retailer Stine LLC sued the Internal Revenue Service on Wednesday seeking a $2.1 million tax refund, saying the company was entitled to substantial tax breaks for investing in areas that were hit hard by hurricanes Katrina and Rita.

The dispute is over whether Stine was allowed to apply hurricane-related tax breaks to costs associated with the construction of two new stores in Broussard and Walker, La. Stine claims the IRS wrongly disallowed the company from utilizing favorable deductions for the two stores....
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