Mike Semes Article Examines Pennsylvania Ruling on NLC Limitations

News / January 13, 2022

Of Counsel Mike Semes authored an Expert Analysis published by Law360 Tax Authority on Jan. 12, 2022. In the analysis, “Pa. High Court Tax Refund Ruling Leaves Questions,” Semes 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 also discusses the state Supreme Court ruling and addresses some questions the majority and two dissenting opinions raised.

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