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Altria Loses $38M Refund in Federal Tax Dispute - USA Herald
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Altria Loses $38M Refund in Federal Tax Dispute - USA Herald
Tobacco giant Altria Group Inc. has lost its bid for a $38 million tax refund, after a Virginia federal court ruled the company was on the hook for income tied to foreign subsidiaries through its stake in Anheuser-Busch. Judge Rejects Refund Claim U.S. District Judge M. Hannah Lauck on Monday sided with the federal government, holding that the 2017 Tax Cuts and Jobs Act (TCJA) eliminated a key rule that once shielded companies like Altria from b…
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