Myria Holdings Inc. v. Iowa Department of Revenue

Myria Holdings, Inc. is a Delaware corporation with its primary place of business in Texas. Myria held an ownership interest in two subsidiaries doing business in Iowa. The Iowa Department of Revenue issued a final order concluding that Myria was ineligible to join a consolidated tax return with its subsidiaries because it did not derive taxable income from within Iowa under Iowa Code 422.33(1). The district court affirmed. The Supreme Court affirmed, holding that Myria lacked a taxable nexus with the State of Iowa, and therefore, the Department correctly concluded that Myria lacked taxable income from within the State. View "Myria Holdings Inc. v. Iowa Department of Revenue" on Justia Law