Tax Law

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Business (Income) As Usual: Minnesota Supreme Court Rules Gain From Sale of LLC is Apportionable Business Income
Posted on 17 Sep 2020 by Eversheds Sutherland LLP

The Minnesota Supreme Court held that the gain from a corporation’s sale of its majority interest in a limited liability company (LLC) was apportionable business income subject to Minnesota corporate income tax. The Court explained that the corporation... Read More