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On Friday, April 3 the Texas Supreme Court issued three decisions addressing the availability and scope of the cost of goods sold, or “COGS,” deduction.
Hegar v. American Multi-Cinema Inc.
The first, and most anticipated, decision is Hegar v. American Multi-Cinema, Inc.1 This case concerned whether AMC, the movie-theater chain, was eligible to deduct COGS for its costs of exhibiting films.
Read the full legal alert here.