Chevron Denied Bid to Expedite Appeal of Oregon Income Tax Loss

Chevron U.S.A. Inc. can’t yet appeal an Oregon Tax Court ruling that it owes additional corporate excise tax related to commodities hedging because an issue about penalties is still pending.

The company asked Judge Robert T. Manicke for a limited judgment that would allow it to appeal a July order barring it from including gross receipts from commodities hedging transactions in its total sales when calculating how much of the company’s income the state can tax. But Oregon case law limits the court’s ability to enter such a judgment if, as here, it doesn’t resolve an entire claim, Manicke ruled ...