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Borgata Calls for Prompt Resolution to Tax Refund Dilemmas

Tuesday, January 7th, 2020

Borgata Calls for Prompt Resolution to Tax Refund Dilemmas

This indicates the Borgata Hotel Casino & Spa tax reimbursement saga is nearing its end. Atlantic City officials have been over and over pushed to take a last stance on the matter and finally provide an adequate payment to 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 come in a Midtown courtroom and demand the judge to rule out in their favour tomorrow.

Borgata is called the taxpayer that is biggest in Atlantic City and has now recently been notified in regards to the last stance for the nj-new Jersey Tax Court. Back December, Borgata made just one more try to accelerate the refund procedure by filing an excellent Court lawsuit but reached success that is sporadic.

People who keep on their own informed about the matter, know that Borgata joined a battle that is legal years back. 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, a settlement agreement, since the period 2011-2015, states that Atlantic City owes Borgata about $88 million in refunds, excluding interest. The settlement had to be paid by the end of 2014, but the city missed the offered due date. This resulted in litigation carried out by Borgata because of the purpose of obtaining judgements for the aforementioned duration.