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Shell Oil Affiliate Wants $1.3 Billion Taxable Income Reduction

June 10, 2021, 9:43 PM

Energy company Motiva Enterprises LLC asked a Texas federal court on Thursday to overrule the IRS on whether the company may reduce its taxable income over six years by more than $1.3 billion.

The company’s complaint was filed on its behalf by one of its partners, SOPC Holdings East LLC, in the U.S. District Court for the Southern District of Texas. The complaint says the IRS has refused to allow the company to correct its original returns for 2008-2013. The returns, the company says, understated the company’s cost of goods sold by the amount of certain fuel ...

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