Puerto Rico Appeals Decision Striking Alternate Biz Tax
Law360, New York (March 31, 2016, 6:39 PM EDT) -- The Commonwealth of Puerto Rico told the island’s federal court Thursday that it will appeal a March 28 decision barring the commonwealth from collecting an alternative corporate income tax from a Wal-Mart Stores Inc. subsidiary because it violates the U.S. Constitution.
Days earlier, the court found that the tax, known as the AMT, clearly discriminates against interstate commerce and violates the U.S. Constitution’s Commerce and Equal Protection clauses. Even Puerto Rico’s secretary of the Treasury admitted that the tax applies only to transactions between Puerto Rico businesses and their cross-border affiliates, the court said.
The tax also violates the dormant commerce...
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