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ARTICLE · 12 MAY 2008

State & Local Tax Insights, Spring 2008

Morrison Foerster
Morrison Foerster
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Morrison Foerster

Morrison Foerster

With approximately 1,000 lawyers in 19 offices, Morrison & Foerster is a preeminent global law firm...

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The U.S. Supreme Court handed Morrison & Foerster a victory in a significant case concerning the constitutional limitations on a State’s power to tax multistate businesses.

United StatesTax
Mitchell Newmark
Mitchell Newmark
Pilar Sansone
Pilar Sansone
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In this issue:

The U.S. Supreme Court handed Morrison & Foerster a victory in a significant case concerning the constitutional limitations on a State's power to tax multistate businesses.

Morrison & Foerster represented MeadWestvaco Corporation in a dispute over whether the Due Process and Commerce Clauses preclude a State from taxing a nondomiciliary business on a capital transaction that occurred outside of the State. The State of Illinois attempted to tax a portion of a $1 billion capital gain from MeadWestvaco's sale of its separate division Lexis/Nexis. The State appellate court sustained the tax, but the U.S. Supreme Court vacated that decision.

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