The Virginia Supreme Court considered whether a multistate tobacco company’s income tax assessments should include the value of raw materials being stored in a Danville, Virginia, facility for more than one year before being shipped out-of-state to be processed.
In the case before the high court, Lorillard Tobacco Co.—a Delaware corporation that manufactures cigarettes in North Carolina to be sold across the country—challenged the Virginia Department of Taxation’s denial of the company’s $11 million refund in Danville Circuit Court.
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