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Michael Semes Article Examines Pennsylvania Ruling on NLC Limitations

News / January 13, 2022

Of Counsel Michael Semes authored an article published on Jan. 12, 2022, by Law360’s Tax Authority as an “Expert Analysis.” The article “Pa. High Court Tax Refund Ruling Leaves Questions” provides background on General Motors Corp. v. Commonwealth of Pennsylvania, which involved a challenge to the constitutionality of Pennsylvania’s limitations on net loss deductions and net loss carryovers, or NLCs. Semes discusses the state Supreme Court ruling in the matter and some unanswered questions the majority and two dissenting opinions raise.

Read the article (registration required)

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