As Reported by Russell at Delaware Intercorp, Inc., the New Mexico Supreme Court quashed cert on an appeal from a lower court opinion which allowed New Mexico to impose an income tax on a Michigan transaction between two related Michigan corporations. It will be most interesting to see what happens next.
Do you think it makes a difference that the Court refused to hear the income tax part of the case, which in effect upheld the lower court ruling, as opposed to affirming the lower court ruling? Did the New Mexico Supreme Court see something else coming? Or am I reading too much into too little?
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