Comptroller’s Proposed Amendments to COGS Rule May Substantially Impact Taxpayers’ Ability to Claim COGS Deduction

Our firm raised significant concerns about how the Comptroller’s proposed amendments to the COGS rule could potentially impact the ability of taxpayers to claim the COGS deduction. Many aspects of the proposed rule appear to alter or remove the holdings of several cases tried by our law firm. We submitted comments to the proposed rule seeking the proposed rule's conformity with the holdings and rationale of Newpark Resources, CGG Veritas Services, and Gulf Copper and Manufacturing Corporation. We will continue to track the status of the proposed rule and provide periodic updates on our blog.

Click here to view a copy of our firm’s comments to the proposed rule. Please contact Jimmy Martens or Danielle Ahlrich for more information.