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General Mills v. FTB (Cal. Ct. App. - April 15, 2009)

By Shaun Martin

I can't think of a better day for this opinion to be published. You think your taxes -- due today, by the way -- are complicated? Think how tough it must be for unitary corporations with subsidiaries in California to figure out their respective state tax liability for forward and derivative contracts. Not easy.

On the upside, complexity gives lots of leeway to attempt to avoid tax income. Something that General Mills has hardly overlooked. Including but not limited to today's timely win in the Court of Appeal.

Get those tax returns in.

Full post as published by California Appellate Report on April 15, 2009 (boomark / email).