Southwest Loses $25 Million Tax Break
Southwest Loses $25 Million Tax Break
DALLAS (CN) - Southwest Airlines will not get a $25 million tax reduction, a Texas appeals court ruled, reversing a trial court judgment.
The trial court found that Southwest had over-reported the value of its aircraft for several years to Dallas County property tax authorities. The airline will now take nothing rather than receive a $25 million tax reduction.
The state's Fifth Court of Appeals reversal centers on a state tax law allowing changes to the appraisal roll for 5 years to correct a "clerical error" that affects a property owner's tax liability.
Dallas-based Southwest sued the Dallas Central Appraisal District and Dallas County Appraisal Review Board, claiming it had made such an error in reporting the value of its aircraft for tax years 2003 through 2007.
http://www.courthousenews.com/2012/01/30/43435.htm
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