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Wis. Supreme Court upholds taxes on Nestle plant
By: Associated Press//February 2, 2011//
Listen to this articleMADISON, Wis. (AP) — The Wisconsin Supreme Court says state tax assessors properly calculated the value of a Nestle baby formula plant in Eau Claire.
Nestle disagreed with state Department of Revenue assessments in 2003 and 2004 that found the Gateway Plant was worth about $10.9 million. The company disputed that figure, saying no market exists for baby formula plants and the facility would likely be sold as a food processing plant, making it worth about $3.5 million.
The Supreme Court ruled Nestle didn’t produce enough evidence to show no market exists and DOR assessed the property correctly.
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