TOYS R Us, INC. v. TAX BOARD
A decision regarding investments in short-term financial instruments, including debt securities and repurchase agreements.As a nationwide purveyor pays state income tax proportionate to its profits in each state.Toys challenges the calculation of the sales fraction of the equation, arguing the worldwide sales figure should include not only the interest earned by its short-term financial investments but also the principal amount of these investments.
Comments on TOYS R Us, INC. v. TAX BOARD