Virginia Supreme Court: Tobacco Company Owed Refund For Tax On Stored Leaf

Mealey's (February 25, 2022, 9:06 AM EST) -- RICHMOND, Va. — The Virginia Supreme Court on Feb. 10 affirmed a circuit court and found that a tobacco company is entitled to nearly $12 million in refunds because it overpaid its state taxes by paying usage taxes on tobacco leaf it stored in a Virginia facility, which the court found was not “used” in a manner that would make it a taxable property of the business....

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