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Tax Law Takes Spotlight in Defining Closely Held Corporations - Taxation News

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Tax News

Posted on: Jul 18, 2014

The highly publicized Supreme Court decision in Burwell v. Hobby Lobby brought tax law into the spotlight. One of the defining characteristics of the Supreme Court's decision is that it applies to "for-profit, closely held corporations". While this is not a common term for the general public, the way "closely held" corporations are defined legally is by tax payments.

Check out this article from the National Law Review for more on this topic and how tax law plays a role in this case.


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