Court deals Caesars setback in $8.6 mil. tax refund case
By Cy Ryan, Las Vegas Sun
CARSON CITY — The Nevada Tax Commission has won a procedural battle with Caesars Entertainment related to the casino company’s pursuit of $8.6 million tax refund.
Caesars sued the state, arguing it should not have paid tax on the aircraft it purchased in 2006 because the planes’ first flights were to locations outside Nevada and during the first 12 months of operation, they were used for interstate commerce — ferrying corporate executives and casino patrons around the country and globe.
An administrative hearing officer and the Nevada Tax Commission rejected the company’s argument late last year. Caesars, then known as Harrah’s, appealed, filing a complaint in District Court in Clark County.
Now, the state Supreme Court has ruled that Clark County District Judge Kenneth Cory should review the Tax Commission’s decision to deny the refund. Cory initially ruled that there should be a new hearing as sought by Caesars, allowing more issues to be introduced rather than adhering only to what was presented to the commission.
This story gives us a glimmer of how messed up the accountants and lawyers have made the tax code.
Who knew that the self regulated accounting industry would be SOOOO much at the root of the ills we face.
FASB and GASB
Two sets of accounting rules – one really messed up country.