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Expert Analysis

There Might Still Be Hope For Texas Franchise Tax Refunds

Law360, New York (November 14, 2014, 10:40 AM EST) -- The last several years have seen litigation brought in multiple states asserting that taxpayers have a right to compute their state income tax liability using the Multistate Tax Compact's allocation and apportionment provisions in lieu of less favorable methods specified by state tax law. In Texas' lead case on the issue, Graphic Packaging Inc. v. Combs, the taxpayer lost at the trial court level, but has recently filed its opening brief with the Third District Court of Appeals in Austin to continue the challenge....

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