The case will be re-file in VI District (Federal) Court.
Yes, they will easily win. The tax laws are clear. The VIIRB wants to disallow deductions that are clearly allowed under the tax code and these same deductions were accepted on all prior returns filed prior to the years in dispute. How much do you trust the VIIRB to be knowledgeable in tax laws? Do you trust them? Would you accept their findings if they audited you, and not dispute it? I didn't think so.
I won't comment on Monarch. We all know their goal.
And the VI cannot legally stop a sale. The $40 million dollar lien would slow it down, but if someone wanted to buy the facility then Hovensa would pay it off to release the lien and the sale can go through.
Clear?
Yes, they will easily win. The tax laws are clear. The VIIRB wants to disallow deductions that are clearly allowed under the tax code and these same deductions were accepted on all prior returns filed prior to the years in dispute. How much do you trust the VIIRB to be knowledgeable in tax laws? Do you trust them? Would you accept their findings if they audited you, and not dispute it? I didn't think so.
I won't comment on Monarch. We all know their goal.
And the VI cannot legally stop a sale. The $40 million dollar lien would slow it down, but if someone wanted to buy the facility then Hovensa would pay it off to release the lien and the sale can go through.
Clear?