May Tax Commissioner Adjust CAT Credit Based on Updated Financial Statements?

Navistar Inc. v. Richard A. Levin [Joseph A. Testa], Tax Commissioner of Ohio, Case No. 2014-0140

Ohio Board of Tax Appeals

ISSUES:

- Must the commercial activities tax (CAT) credit be based on a company's books and records existing at the end of 2004 and filed by June 30, 2006, or may the tax commissioner rely on a later restatement of a company's financials to determine the appropriate CAT credit?

- Does the decision by the Board of Tax Appeals fail to give effect to the statutes governing CAT?