Judge Orders Montana to Re-Compute Coal Tax

Posted in
Judge Orders Montana to Re-Compute Coal Tax

BILLINGS, Mont. (AP) - A state judge has ordered Montana authorities to recalculate how much is owed by a Wyoming mining company that challenged its $3.4 million tax bill. Monday's ruling from District Judge Jeffrey Sherlock of Helena concerned Cloud Peak Energy's sale of coal to affiliates that it partially owns.

The state alleges the Gillette, Wyo., company undervalued coal that it sold between 2005 and 2007 - and paid too little in taxes as a result. But Sherlock says tax authorities erred in coming up with a value for Cloud Peak's coal based on when it was shipped. He says the value should be based on when the sales contract was signed. The practice of selling coal to affiliated companies also is under scrutiny by federal regulators investigating royalties on coal shipped to Asia.

view counter
We now require people to use their real names for comments. (firstname/lastname) Expect comments to be removed if this condition is not met. Multiple comments without your Firstname/Lastname will result in the account being blocked.
SheridanWyoming.com

Send us a News Tip!

Have a news tip?
Use our anonymous form to let us know.