A couple with powerful help is asking the Supreme Court for a ruling that could affect a wealth tax

The couple from Redmond, Washington, claim they had to pay the money because of their investment in an Indian company from which, as Charles Moore, 62, said in a sworn statement, they “have never received a distribution, dividend, or other payment.”

Details of the Moores' involvement with the company, initially called KisanKraft Machine Tools Private Limited, were first reported by Tax Notes, which caters to tax professionals. The public documents are filings with the Indian government.enacted by a Republican-controlled Congress and signed by then-President Donald Trump. The law applies to companies that are owned by Americans, but do their business in foreign countries.

Moore also was prepared to invest an another roughly $250,000. That money was ultimately returned by KisanKraft, along with 12% interest. In a brief conversation with The Associated Press, Kathleen Moore said she and her husband would not discuss the case and referred questions to their lawyers. Andrew Grossman, the Moore's lead attorney, did not respond to messages seeking comment.

Other provisions of the tax code could be upended by the court's decision, including measures relating to partnerships, limited liability companies and other business formations, Rosenthal said.

“Moreover, I thought KisanKraft was formed for a noble purpose and had the potential to improve the lives of small and marginal farmers in India,” Moore said. During Lake's Senate campaign kickoff, she largely steered clear of past election grievances and instead spoke of the need for honesty in elections.The conservative newspaper took aim at Trump after he criticized Israel's leader and praised Hezbollah during a crisis in the Middle East.

Source: Law Daily Report (lawdailyreport.net)

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