Legal Opinion
Meredith Corp. v. Tax Appeals Tribunal of Department of Taxation & Finance
Appellate Division of the Supreme Court of the State of New York
Decided November 21, 2012Published
1Opinion of the Court
OPINION OF THE COURT
Lahtinen, J.
Petitioner is an Iowa corporation engaged in publishing and television broadcasting. It seeks a refund of part of the corporate franchise tax it paid in New York for the tax years ending in June 1998, 1999 and 2000. The portion of its entire net income allocated to New York for taxation was determined by multiplying its net worldwide income by the business allocation percentage (hereinafter BAP) (see Tax Law § 210 [3]). During the years in dispute, the BAP was based upon a three-factor formula that included the corporation’s property, receipts and payroll (see…
2Cases cited5 opinions
- Matter of United Artists Corp. v. TaylorNew York Court of Appeals · 1937
- National Elevator Industry, Inc. v. New York State Tax CommissionNew York Court of Appeals · 1980
- Disney Enters. v. Tax AppealsNew York Court of Appeals · 2008
- Disney Enterprises, Inc. v. Tax Appeals TribunalAppellate Division of the Supreme Court of the State of New York · 2007
- Friesch-Groningsche Hypotheekbank Realty Credit Corp. v. Tax Appeals TribunalAppellate Division of the Supreme Court of the State of New York · 1992