<p>Illinois Tax Tribunal Finds Factual Record Needed to Determine Proper Treatment of IBM Subsidiary</p>

Illinois Tax Tribunal Finds Factual Record Needed to Determine Proper Treatment of IBM Subsidiary

The Illinois Independent Tax Tribunal denied International Business Machines Corp.'s motion for summary judgment in an income tax dispute, finding that a factual record of IBM and its subsidiary's activities must be established before the tribunal can determine whether IBM correctly treated the subsidiary as an exempt 80/20 company.

The Illinois Independent Tax Tribunal denied International Business Machines Corp.'s motion for summary judgment in an income tax dispute, finding that a factual record of IBM and its subsidiary's worldwide business activities must be established before the tribunal can determine whether IBM correctly treated the subsidiary as an exempt 80/20 company.