“California Decides to Go It Alone on Taxes”

The economics editor for Bloomberg Businessweek does not like the Supreme Court’s decision last month in Gillette Company v. Franchise Tax Board.  He claims that the opinion “[s]uddenly [puts] the legal standing of [the almost 200 existing interstate] compacts . . . under a cloud.”  However, he later admits that the compact at issue in Gillette — the Multistate Tax Compact — “has been known to be squishy for years” and that “[o]ther compacts are considerably stronger.”  In any event, he reports Gillette is planning to petition the US Supreme Court for certiorari.