The principal contention in the tax refund case of Exxon v. United States was whether certain mineral related transactions between Exxon and the countries of Qatar and Malaysia were sales or leases. Originally Exxon treated...more
11/9/2022
/ Corporate Taxes ,
Exxon Mobil ,
Gas Royalties ,
Income Taxes ,
IRS ,
Lease Tax ,
Malaysia ,
Mineral Leases ,
Oil & Gas ,
Profits ,
Qatar ,
Revenue ,
Sales Tax ,
Statements of Economic Interest ,
Tax Liability ,
Tax Refunds
The IRS recently released a chief counsel memorandum AM2014-003 on LLC Member Guarantees of LLC Debt and “Qualified Nonrecourse Financing.” These memorandums are very helpful because they provide the IRS’ interpretation of...more