January 16, 2008
Supreme Court Hears Oral Argument Today in MeadWestvaco Corp. v. Illinois Department of Revenue
The Supreme Court hears oral argument today in MeadWestvaco Corp. v. Illinois Department of Revenue, No. 06-1413
- Question Presented: Is the attempt by Illinois to tax the approximately $1 billion gain realized by Petitioner when it sold its investment in Lexis/Nexis in 1994 (which it acquired in 1968 for $6 million and which functioned for 26 years as an independent, nonunitary business) in direct conflict with the decisions of the Court in Allied-Signal, Inc. v. Director, Division of Taxation, 504 U.S. 768 (1992), FW. Woolworth Co. v. Taxation & Revenue Department of New Mexico, 458 U.S. 354 (1982), and ASARCO Inc. v. Idaho State Tax Commission, 458 U.S. 307 (1982) and the Due Process and Commerce Clauses of the United States Constitution?
- Opinion Below
Update: The transcript of today's oral argument is here.
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Tracked on Jan 16, 2008 9:05:54 PM