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Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world
Americas+1 212 318 2000
EMEA+44 20 7330 7500
Asia Pacific+65 6212 1000
A solar farm owner convinced the Arizona Tax Court that the farm’s renewable energy equipment should be valued at its original construction cost rather than its nearly 40% higher sale price.
Arizona law requires the state revenue department to evaluate renewable energy equipment’s original cost as the “cost of acquiring or constructing” the equipment. The department couldn’t use the solar farm equipment’s sale price as the original cost because it included “values for the land underlying the project and intangible assets such as existing agreements and tax benefits,” Tax Court Judge Erik Thorson wrote in an opinion posted Wednesday.
Sun …
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