MetLife Will Get Trial in NY Corporate Franchise Tax Dispute

MetLife Inc.‘s challenge to a $9.09 million New York corporation franchise tax assessment will proceed to trial after a state administrative law judge rejected the tax department’s bid for an early out.

The company and the New York Division of Taxation disagree over whether billions of dollars that MetLife invested in insurance company subsidiaries should be included in its computation of business capital for tax years 2016-2018.

New York Division of Tax Appeals Administrative Law Judge Anita K. Luckina said “there is clearly a question” about how the state’s tax law should be applied.

“However, the ultimate issue to ...