The Supreme Court denied Altera’s petition for writ of certiorari today. The case involved transfer pricing in connection with Altera’s research and development cost-sharing agreement with a foreign subsidiary. The cert denial means the Ninth Circuit’s decision upholding the IRS’s assessment stands, and taxpayers with the same issue may be facing an increase in federal taxable income, to which most states conform.
- Startdatum / -uhrzeit:
- 7 July 2020, 2:00 PM EDT
- Enddatum / -uhrzeit:
- 7 July 2020, 2:30 PM EDT
- The Supreme Court’s Altera cert denial has state tax consequences
Reed Smith will be hosting a webinar on July 7 to discuss the state-tax consequences of this decision.