Golub loses $1.3M state tax challengeAppellate decision upholds ruling on ineligibility for credits By Brian Nearing Published 6:40 pm, Thursday, April 17, 2014 Golub Corp. lost an appeal Thursday in a disputed $1.3 million state tax credit over a freezer warehouse project in the Rotterdam Industrial Park. The Appellate Division of state Supreme Court upheld a lower court ruling that Golub, operator of Price Chopper supermarkets, was not entitled to the Empire Zone state tax credit for the project because a payment-in-lieu-of-taxes agreement was made in 2005 by the Rotterdam Industrial Development Agency with an affiliate of the park's owner, Rotterdam Ventures, and not with Golub Corp. directly. The dispute covered property taxes paid by Golub in 2007 and 2008. Company spokeswoman Mona Golub said the company was disappointed in the ruling, and believed that "the issue has yet to be determined" when asked if an appeal is planned. Golub said the state changed the disputed language in the Empire Zone tax credit program in 2009, and that since then, property taxes paid by Golub as a tenant of the park have qualified for the credit. The earlier credits were disallowed by the state Division of Taxation and Finance, which was later upheld by an administrative law judge and the state Tax Appeals Tribunal. The state attorney general's office declined comment. http://www.timesunion.com/business/article/Golub-loses-1-3M-state-tax-challenge-5411316.php |
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