3rd Circ. Questions Tax Exemption In NJ Biz Grant Dispute

By Jeannie O'Sullivan (April 23, 2020, 7:35 PM EDT) -- The Third Circuit on Thursday questioned the U.S. Tax Court's determination that portions of New Jersey business relocation grants awarded to BrokerTec Holdings Inc. affiliates were tax-exempt capital contributions, reasoning that the unrestricted funds came absent any requirement to use them for capital investment....

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