Pabst Family Trusts Owe California Tax, High Court Confirms

The California Supreme Court said Wednesday it won’t review or depublish a lower court ruling that the family that sold the Pabst beer company owes state income tax on the sale proceeds.

The court denied without comment a petition from trusts controlled by the Metropoulos family to review or at least depublish the May 27 appellate court ruling, as well as seven similar requests it received from tax attorneys and practitioners.

The practitioners said the lower court erroneously ruled a state regulation takes precedence over a statute, created a new income apportionment regime for intangibles ...