Minnesota Tax Court - Federal 382 limitation is not subject to apportionment

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August 2017


On August 11, 2017, the Minnesota Tax Court concluded that a taxpayer is not required to apportion the federal 382 limitation when utilizing net operating losses of an acquired company. In concurring with its earlier decision in Express Scripts v. Commissioner, the Tax Court found that under the plain meaning of Minnesota law, the unapportioned section 382 limitation should be applied to a taxpayer’s Minnesota unapportioned net income.

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Peter Michalowski

Peter Michalowski

State and Local Tax Leader, PwC US

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