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Tuesday, April 15, 2008

Illinois capital gains tax ruling [US SC]
1:38 PM ET

MeadWestvaco Corp. v. Illinois Department of Revenue, US Supreme Court, April 15, 2008 [overturning an Illinois state court decision allowing the state to tax a portion of the $1 billion capital gains realized by MeadWestvaco's predecessor when it sold its interest in Lexis/Nexis ]. Read the full text of the opinion [PDF]. Reported in JURIST's Paper Chase here.



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