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Post details: Utah --Severance Tax: Court Clarifies Application of ExxonMobil Case to Deficiency and Refund Actions
12/11/09
Utah --Severance Tax: Court Clarifies Application of ExxonMobil Case to Deficiency and Refund Actions
CCH (cch.taxgroup.com) reports:
 The Utah Supreme Court has ruled that a limitation against retroactive application of the severance tax valuation holding in
ExxonMobil Corp. v. Utah State Tax Commission, Utah Supreme Court, 86 P.3d 706, 2003 UT 53, November 25, 2003, does not apply to severance tax deficiency actions but continues to apply to refund actions initiated by taxpayers. The court handed down the ruling in a case where an oil company sought a refund of severance taxes. At issue in the case were valuation methods and the commission's proration of an annual tax exemption.
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