Penn Entertainment Inc. shouldn’t be allowed to write off income it generated in Indiana just because it used the funds to pay taxes to other states, the revenue department told the state’s high court.
When calculating adjusted gross income, Indiana’s add-back provision requires Indiana businesses to add deductions allowed by federal law for taxes measured by income paid to other states. The casino operator asked the Indiana Supreme Court in May to reverse a tax court ruling that gambling taxes it paid to 10 states fall under the provision.
“There is no reason for this Court to review this case ...
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