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NJ Can't Deny Morgan Stanley Interest Deduction, Court Says

By Eric Kroh (October 31, 2014, 4:24 PM EDT) -- The New Jersey Tax Court in an opinion published Friday sided with Morgan Stanley and Co. in a dispute with the state Division of Taxation, finding the tax authority abused its discretion in denying the firm a deduction for interest on loans to related entities and assessing more than $700,000 in business tax liabilities....

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