Pennsylvania BFR Partially Grants Taxpayer’s Corporate Income Tax Petition

The Pennsylvania Board of Finance and Revenue (BFR) issued a decision ordering the Department of Revenue (DOR) to partially grant taxpayer’s requested corporate income tax refund for net losses from merged entities. Taxpayer, a corporation, had filed a petition challenging the DOR’s and Board of Appeals’ reassessment of their Pennsylvania corporate net income tax for the 2018 tax year. The taxpayer claimed that the assessment failed include net losses from prior tax years, arguing that its net loss carryover must reflect losses of merged and liquated affiliates. Upon review, the BFR found the taxpayer provided sufficient documentation to allow the ...