Fundamental Valuation Principles Prevail In Minn. Tax Court

By Mark Lansing (September 10, 2018, 11:53 AM EDT) -- In Enbridge Energy Limited Partnership v. Commissioner of Revenue,[1] the Minnesota Tax Court recently rejected the Minnesota commissioner of revenue's attempt to artificially increase an interstate pipeline's value to exceed market value, here, applying unit valuation. It rejected the state's numerous inconsistent positions and its attempt to assert its own administrative rule as a limitation on the court's ability to determine fair market value.[2]...

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