GM Wins Ruling on Tax Break for Subsidizing Some Loans

In a significant victory for the auto industry, a U.S. Tax Court judge ruled that General Motors was justified in taking a tax deduction for subsidizing reduced-rate loans it offered customers. The article quotes Chicago tax partner Todd F. Maynes and summarizes why this victory is beneficial not only to General Motors, but to all manufacturers and consumers.     

This article appeared in its entirety in the June 14, 1999, edition of The Wall Street Journal.