Railroad Stock Options Not Taxable In $13M Row, Justices Say
Law360, Los Angeles (June 21, 2018, 10:14 AM EDT) -- The U.S. Supreme Court on Thursday decided that stock options given to employees of several subsidiaries of a Canadian railroad company are not taxable compensation under the Railroad Retirement Tax Act, reversing the Seventh Circuit in a $13.3 million lawsuit against the Internal Revenue Service.
By a 5-4 decision, the U.S. Supreme Court decided stock options given to employees of several subsidiaries of the Canadian National Railway Co. didn’t qualify as taxable “money remuneration.” (AP) In a 5-4 decision, the court found the stock options did not qualify as taxable “money remuneration” under the RRTA. The court said it departed from the...
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