Summary
- The Indiana Supreme Court unanimously ruled that Penn Entertainment is not required to add back wagering taxes paid to other states when calculating its Indiana taxable income.
- This decision stems from the case Penn Entertainment v. Indiana Department of Revenue, focusing on apportionment and tax policy implications.
- The court provided a detailed framework for determining whether another state's tax is “based on” or “measured by” income, using a pie-chart analogy.
- This ruling could influence taxpayers in other states with similar add-back provisions, potentially reshaping state tax policies.
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