<p>Texas Supreme Court Says Utility Company Does Not Have to Be Taxed as Corporation</p>

Texas Supreme Court Says Utility Company Does Not Have to Be Taxed as Corporation

Texas Supreme Court

The Texas Supreme Court held a law that required electric utility companies to compute taxes as though they had filed a consolidated return with a group of its affiliates did not require a company to adopt a corporate structure and upheld the company's renegotiated franchise fee expenses.

<p>The Texas Supreme Court held a law that required electric utility companies to compute taxes as though they had filed a consolidated return with a group of its affiliates did not require a company to adopt a corporate structure and upheld the company's renegotiated franchise fee expenses.</p>