Law360 Quotes Mark Allison on High Court Levels Individual, Corporate Taxes in Md. Ruling
Caplin & Drysdale's Mark D. Allison discussed the importance of the U.S. Supreme Court's recent ruling against a Maryland tax scheme that prohibited residents from offsetting county level income taxes by amounts already paid to other jurisdictions. For the complete article, please visit Law360's website (subscription required).
Excerpt taken from the article.
"This case finally resolves the question of whether internal consistency and fair apportionment principles apply as equally to individuals as they do to corporate taxpayers," Caplin & Drysdale Chtd. member Mark Allison told Law360. "It's a question that's been lurking out there for some time, and now we have an answer that lays down the marker and is so clear. It's an important issue even for other cases that are currently pending."