Subsidiary Tax Standards At Stake In Tesoro High Court Bid

Law360, New York (March 13, 2014, 6:34 PM EDT) -- Tax experts are closely watching whether the U.S. Supreme Court will review an Alaska high court ruling that said petroleum giant Tesoro Corp. must pay taxes on an extra $75 million earned from an out-of-state subsidiary, saying the case may implicate parent-subsidiary relationships in multiple sectors.

Tesoro says the extra money, which came from a Texas- and Bolivia-based unit, shouldn't have been taxed in Alaska because the unit wasn't vertically or horizontally integrated with the company's Alaska unit, meaning the duo wasn't a unitary business for...
To view the full article, register now.