PRTODAY / NewswireToday Free press release distribution service network

Written by / Agency / Source: Jackson Walker, LLP

Check Ads Availability|e-mail Article


Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!

Jackson Walker Wins Texas Supreme Court Victory for Client in Franchise Tax Case - On May 27, the Texas Supreme Court ruled in favor of TGS-NOPEC Geophysical Company in its dispute with the Texas Comptrollerís Office over how the licensing of geophysical data should be categorized for Texas franchise tax purposes - JW.com
Jackson Walker Wins Texas Supreme Court Victory for Client in Franchise Tax Case

 

NewswireToday - /newswire/ - Dallas, TX, United States, 2011/06/08 - On May 27, the Texas Supreme Court ruled in favor of TGS-NOPEC Geophysical Company in its dispute with the Texas Comptrollerís Office over how the licensing of geophysical data should be categorized for Texas franchise tax purposes - JW.com.

   
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Financial/Legal/Venture Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

TGS gathers and interprets seismic and geophysical data that is used by the oil and gas industry. In its decision, the court agreed with TGS that revenue from the licensing of this data should be characterized as receipts from the license or sale of an intangible asset rather than from the use of a license. The distinction is important because receipts from the sale of an intangible asset are only allocated to Texas if the purchaserís ďlegal domicileĒ is in Texas.

Based on this determination, the court further ruled that the Comptrollerís office should refund TGS all of the taxes, penalties and interest that the company overpaid as a result of the Comptrollerís mischaracterization of its receipts.

The courtís decision was a significant victory for the company and has broad-ranging implications both for the seismic and geophysical data industry and potentially for other Texas industries that grant licenses for intangible assets.

TGS was represented by Jackson Walker partner James T. McBride in Houston, with assistance from senior counsel Maryellen Shea, associate Elaine Conway, and partner Steven D. Moore in Austin.

About Jackson Walker L.L.P.
Jackson Walker L.L.P. (jw.com) has more than 120 years of experience in providing legal counsel to clients throughout Texas, the United States and internationally. The firm provides a strong regional base of more than 330 attorneys in Austin, Dallas, Fort Worth, Houston, San Angelo and San Antonio.

 
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Financial/Legal/Venture Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Written by / Agency / Source: Jackson Walker, LLP

 
 

Availability: All Regions (Including Int'l)

 

Traffic Booster: [/] Quick Newswire Today Visibility Checker

 

Distribution / Indexing: [+]

 
 
# # #
 
 
  Your Banner Ad showing on ALL
Financial/Legal/Venture articles,
CATCH Visitors via Your Competitors Announcements!


Jackson Walker Wins Texas Supreme Court Victory for Client in Franchise Tax Case

Company website links NOT available to basic submissions
It is OK to republish and/or LINK any newswire for any legitimate media purpose as long as you name Newswire Today and LINK as the source.
 
  Is this your article?
Activate ALL web links and social stream by Upgrading to Press Release PREMIUM Plan Now!

|
Publisher Contact: Michelle Steckel - JW.com 
214-953-5686
 
Newswire Today - PRZOOM / PRTODAY disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any Jackson Walker, LLP securities in any jurisdiction including any other companies listed or named in this release.

Financial/Legal/Venture via RSSAdd NewswireToday - PRZOOM Headline News to FeedBurner
Find who RetweetFollow @NewswireTODAY



Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!


Read Latest Articles From Jackson Walker, LLP / Company Profile


Read Financial/Legal/Venture Most Recent Related Newswires:

Lazard Global Listed Infrastructure Fund Wins Two Lipper Fund Awards
Global Brands List of 2017 Awarded Elite Capital & Co. the Best Financial Brand in United Kingdom
FTI Consulting Receives Recognition in the Legal Industry
FinTech Start-ups Disrupt Business Models, Customer Engagement and Financial Services Delivery in Europe Finds Frost & Sullivan
Elite Capital & Co. Limited Signs Deal with ACB Investments Holding
LexisNexisģ Business Insight Solutions Expands Risk Management Portfolio with New Risk Media Monitoring Solution
GE to Sell Shares in Hyundai Card Co. to Hyundai Commercial, Affinity Equity Partners and Other Investors
Societe Generale Named Best Trade Finance Provider in Western Europe and Emerging Markets by Global Finance
Frost & Sullivan Sees Strong IPO Momentum on ASX in 2017 - Strengthens Independent Market Research for IPO's team in Australia
LexisNexis Integrates Lexis Search Advantage with Lexis Practice Advisor
LexisNexis Wins Best Search Project of 2016 for Search Term Maps
TRA Hires Grant Livingston As Regional Sales Consultant
FTI Intelligence Adapts Subscription-Based Service
Chinese Language Website of Dubaiís Award-winning Al Rowaad Advocates & Legal Consultants Launched
FTI Consulting Ranked as the Leading Dispute Advisory Provider by ALM Intelligence

Boost Your Social Network
& Crowdfunding Campaigns


LIFETIME SOCIAL MEDIA WALL
NewswireToday Celebrates 10 Years in Business


PREMIUM Members


Visit  BizJobs.com

Visit  JobsWare.com





 
  ©2017 Newswire Today ó Limelon Advertising, Co.
Home | About | Advertise/Pricing | Contact | Investors | Privacy/TOS | Sitemap | FRANCAIS
newswire, PR free press releases distribution service magazines engine news alert newsroom press room breaking news public relations articles company news alerts newswiredistribution ezine bizentrepreneur biznewstoday digital business report market search pr firms agencies reports distri-bution today investor relation successful internet entrepreneurs newswire distribution prtoday.com freenewswiredistribution asianewstoday bizwiretoday USA pr UK today - NOT affiliated with PRNewswire as we declined their partnership offer in 2013
 
PRTODAY & NewswireTODAY are NOT affiliated with USA TODAY (usatoday.com)