Amazon Win Shuts Down IRS' Broad Definition Of Intangibles
By Alex M. Parker (August 20, 2019, 9:05 PM EDT) -- The IRS loss at the Ninth Circuit in its dispute with Amazon.com Inc. — the latest defeat for the government over cost-sharing rules — likely signals that legal battles over the precise definitions of intangible assets are coming to a close.
Employees walk through a lobby at Amazon's headquarters in Seattle in November 2018. (AP) The Ninth Circuit rejected the Internal Revenue Service's argument that concepts such as Amazon's goodwill, the value of its in-place workforce and other intangible concepts that are not intellectual property can be read into 25-year-old regulations. Those regulations were pulled in 2009, and the law itself was...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!