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Tax Court Denies Stamp Cost Deduction To Cigarette Retailers

By Ama Sarfo ( November 19, 2013, 7:14 PM EST) -- The U.S. Tax Court ruled Tuesday that a New York-licensed wholesale cigarette dealer doesn't qualify for a federal exemption that shields small resellers from capitalizing certain costs because the company artificially deflated its gross revenue by subtracting New York cigarette taxes from its sales....

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