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Unitary Tax Iowa

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November 9, 1988 | From Reuters
A unanimous Supreme Court ruled Tuesday that states may tax income that oil companies earn from the offshore production of oil and gas on federally leased property. The ruling, written by Justice Thurgood Marshall, was a defeat for Shell Oil Co., a unit of Dutch/Shell Group, which challenged a corporate tax in Iowa as it applied to income from offshore oil and gas.
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BUSINESS
November 9, 1988 | From Reuters
A unanimous Supreme Court ruled Tuesday that states may tax income that oil companies earn from the offshore production of oil and gas on federally leased property. The ruling, written by Justice Thurgood Marshall, was a defeat for Shell Oil Co., a unit of Dutch/Shell Group, which challenged a corporate tax in Iowa as it applied to income from offshore oil and gas.
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