Texas Justices To Hear Importer’s Tax-Free Zone Claim
Law360 (August 30, 2019, 6:55 PM EDT) -- A crude oil importer storing products in a local tax-free “subzone” can challenge a lower court ruling that the subzone operator's corporate structure change caused the importer to lose access to the subzone's tax exemptions, the Texas high court said Friday.
A petrochemical facility near the Houston Ship Channel. A Texas appeals court ruled in 2017 that a foreign trade “subzone” lost its tax-exempt status for local property tax purposes through a merger involving its operator. (AP) The Texas Supreme Court granted PRSI Trading LLC's request for review of a 2-1 ruling in 2017 by a lower appeals court in favor of Harris...
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