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Borgata Calls for Prompt Resolution to Tax Refund Issues

Dienstag, Januar 7th, 2020

Borgata Calls for Prompt Resolution to Tax Refund Issues

This indicates the Borgata Hotel Casino & Spa tax reimbursement saga is nearing its end. Atlantic City officials happen over and over repeatedly pressed to take a stance that is final the situation and eventually offer an sufficient payment towards the casino.

Even though refunds were due in Borgata is yet to receive a payment, which made its attorneys schedule a court appearance december. They will appear in a Midtown courtroom and demand the judge to rule out in their favour tomorrow.

Borgata is called the biggest taxpayer in Atlantic City and it has already been notified about the last stance associated with the New Jersey Tax Court. Back in December, Borgata made still another make an effort to speed up the reimbursement procedure by filing an exceptional Court lawsuit but realized success that is sporadic.

Those who keep themselves informed concerning the matter, realize that Borgata entered a legal battle five years ago. The casino filed, the final decision remained unchanged in 2013, the assessments were reduced to $880 million and $870 million and despite the appeal.

In addition, money contract, since the period 2011-2015, says that Atlantic City owes Borgata more or less $88 million in refunds, excluding interest. The settlement must be paid by the end of 2014, but the city missed the provided deadline. This led to litigation conducted by Borgata utilizing the goal of acquiring judgements for the period that is aforementioned. (mehr …)