Americas News
Texas Supreme Court Rejects Bid for Tax Refund on Bunker Sales
The Supreme Court of Texas has rejected an appeal from a local bunker supplier seeking a tax refund on marine fuel sales.
NuStar Energy had requested a $2.4 million franchise tax refund on marine fuel sales at Texas ports to nonresident purchasers for the tax years 2011 to 2013.
The request was denied, and NuStar filed a lawsuit seeking to enforce its claim, arguing that bunker fuel sales to nonresident purchasers for consumption outside the state did not count as business done in Texas.
After several years of the case passing through the state's courts, the Supreme Court ruled on it earlier this month, rejecting the claim.
"Goods are delivered in the statutory sense where the buyer receives them in the actual sense," Justice John P Devine said in the ruling.
"Because the challenged administrative rules are consistent with section 171.103(a)(1) as written, NuStar failed to overcome the presumption that the rules are valid.
"We therefore agree with the lower courts that those regulations withstand the taxpayer’s validity challenge."
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 839.00 | 55.50 | 1661.50 | 122.50 |
| Rotterdam | 730.50 | 27.00 | 1261.50 | 73.00 |
| Houston | 782.00 | 19.50 | 1248.50 | 27.00 |
| Fujairah | 863.00 | 78.50 | 1566.50 | 74.00 |
| Americas Average | 949.00 | 26.00 | 1344.00 | 36.00 |
| Global 20 Ports Average | 936.50 | 38.00 | 1537.00 | 31.50 |
| Global 4 Ports Average | 803.50 | 45.00 | 1434.50 | 74.00 |
| Global Average Bunker Price | 977.00 | 45.50 | 1485.50 | 50.00 |
Popular Now More
-
Mar 25Chinese shipping firm restarts Far East shipments to key Gulf countries, but warns conditions remain uncertain. -
Mar 24The refinery is a significant source of VLSFO, as well as other marine fuel grades, for the US Gulf bunker market. -
Mar 26The tanker Altura was hit by an unmanned marine vehicle 15 miles from the Bosphorus in the Black Sea on Thursday morning.