McKesson Tax Bill is Justified Even With Loper Bright, DOJ Says

The IRS has the authority to impose a rule that led to a $9.6 million tax bill against McKesson Corp., and a key Supreme Court ruling weakening agencies’ rulemaking authority doesn’t change that, the Justice Department says.

If anything, that ruling, Loper Bright Enterprises v. Raimondo, “strengthens the government’s position,” the department said in a memo filed Friday in US District Court for the Northern District of Texas, where McKesson has filed suit to challenge the tax bill.

The tax bill was imposed because of an IRS rule that requires inclusion of stock-based compensation in cost-sharing agreements among ...