Nebraska’s Tax on Offshore Earnings Heads Back to Court

July 21, 2021, 6:29 PM

Business interests challenging a Nebraska Department of Revenue guidance letter seeking to tax a portion of the offshore earnings of multinational corporations will file an appeal brief in October, responding to a ruling that tossed the case on administrative grounds.

The Council on State Taxation, a trade group representing large business taxpayers, plans to appeal a ruling by District Court Judge Kevin R. Manaman that dismissed its lawsuit challenging a general information letter rejecting any state deduction claimed for federal tax code Section 965 deemed repatriations. COST filed a petition for appeal on July 16 and the court directed ...

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