Oregon Tax Magistrate Rules for State in Apportionment Row (1)

First National Bank of Omaha and JP Morgan Chase Bank NA didn’t act on behalf of Vesta Corp. when they processed payments for its customers, an Oregon magistrate ruled in a case about Vesta’s taxable income.

Vesta processes payments for prepaid wireless services for telecommunications companies including AT&T Mobility LLC, Sprint, and T-Mobile. Vesta submits card transactions to FNBO and Chase as payment acquirers.

On its 2010 and 2011 tax returns, Vesta took the position that its fees were primarily earned for work performed outside of Oregon because the fees paid to payment acquirers were direct costs ...