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  • Dir. of Revenue v. Verisign, Inc.

    Publication Date: 2021-12-14
    Practice Area: Tax
    Industry: E-Commerce
    Court: Delaware Supreme Court
    Judge: Justice Traynor
    Attorneys: For plaintiff: Anthony J. Testa, Jr., Matthew M. Warren, Michael B. Cooksey, Delaware Department of Justice, Wilmington, DE; Tiffany R. Moseley, Steven S. Rosenthal, Loeb & Loeb, Washington, DC for appellant
    for defendant: Frank. J. Gallo, Kyle O. Sollie, Sebastian C. Watt, Benjamin P. Chapple, Reed Smith LLP, Wilmington, DE for appellee
    Case Number: D69643

    Division of revenue policy limiting the use of net operating loss to the amount claimed on a consolidated federal income tax return was inconsistent with operative state tax law which required each Delaware corporate taxpayer to calculate its income as if it had filed its federal return separately.