State Could Net $1B
Massachusetts officials are eagerly awaiting decisions in three court cases that could mean $1 billion in revenue for the state at a time of shrinking budgets.
The state Department of Revenue alleges in the cases that some corporations have skirted tax laws by transferring profits that would be taxable in Massachusetts to a nontax jurisdiction.
The rulings, expected within several months, will likely determine hundreds of similar corporate tax fights.
The Supreme Judicial Court last month heard final arguments in cases against Toys Inc., operator of Toys “R’’ Us, and Capital One Financial Corp. A state Appeals Court on Monday heard the state’s case against discount retailer TJX Cos.
Revenue Commissioner Navjeet Bal said legal victories could prompt other companies to settle. (AP)
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