Kentucky Appeals Court Holds AT&amp;T May Exclude Out-of-State Subsidiaries From Consolidated Returns

Kentucky Appeals Court Holds AT&T May Exclude Out-of-State Subsidiaries From Consolidated Returns

The Kentucky Court of Appeals held that AT&amp;T Corp. may exclude out-of-state subsidiaries from consolidated returns for tax years 1995-1997 because state revenue statutes governing consolidated corporate income tax returns were ambiguous during the period at issue, affirming the Jefferson Circuit Court's September 2008 decision.

Prior coverage of the circuit court's September 2008 decision <a href="/lr/resolve//3s6v"> <img src="//s3.amazonaws.com/binary.taxnotes.com/image/etl/doclink.gif" border="0" alt="2008 STT 192-6: News Stories"/></a>. Circuit court decision <a href="/lr/resolve//3p48"> <img src="//s3.amazonaws.com/binary.taxnotes.com/image/etl/doclink.gif" border="0" alt="2008 STT 193-9: State Court Opinions"/></a>.

The Kentucky Court of Appeals held that AT&T Corp. may exclude out-of-state subsidiaries from consolidated returns for tax years 1995-1997 because state revenue statutes governing consolidated corporate income tax returns were ambiguous during the period at issue, affirming the Jefferson Circuit Court's September 2008 decision <a href="/lr/resolve//3p48"> <img src="//s3.amazonaws.com/binary.taxnotes.com/image/etl/doclink.gif" border="0" alt="2008 STT 193-9: State Court Opinions"/></a>.

The Kentucky Court of Appeals held that AT&T Corp. may exclude out-of-state subsidiaries from consolidated returns for tax years 1995-1997 because state revenue statutes governing consolidated corporate income tax returns were ambiguous during the period at issue, affirming the Jefferson Circuit Court's September 2008 decision .