Daily Tax Update - August 28, 2015: Sixth Circuit Remands Railroad Companies' Challenge to Tennessee Transportation Fuel Equity Act

Sixth Circuit Remands Railroad Companies’ Challenge to Tennessee Transportation Fuel Equity Act:  Today the U.S. Court of Appeals for the Sixth Circuit remanded a dispute concerning the district court’s denial of preliminary-injunctive relief to five major railroad companies that individually brought suit against the Tennessee Department of Revenue in response to the recently enacted Tennessee Transportation Fuel Equity Act, which the railroad companies contend violates the federal Railroad Revitalization and Regulatory Reform Act of 1976 (4-R Act).  The 4-R Act prohibits states from imposing taxes that discriminate against a rail carrier.


Miscellaneous Guidance:
Notice 2015-58 provides guidance on certain issues relating to the application of the Cooperative and Small Employer Charity Pension Flexibility Act, which specifies minimum funding requirements and related rules that apply with respect to certain defined benefit pension plans maintained by groups of cooperatives and related entities and groups of charities.  


The IRS LB&I International Practice Service Transaction Unit released guidance for its examiners on transfer pricing and foreign-to-foreign transactions.