The Supreme Court has issued unanimous rulings in two tax cases, MeadWestvaco Corp. v. Illinois Department of Revenue, and U.S. v. Clintwood Elkhorn Mining Co.
In the MeadWestvaco case, the Supreme Court vacated and remanded the decision of the Illinois appellate court, which had allowed the state of Illinois to tax a capital gain realized by Mead, an Ohio-based subsidiary of MeadWestvaco, when Mead sold its LexisNexis business division. Mead paid the tax and sued in state court.
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