Utility company gets to keep $3M overcharge on Trump's casinos

Posted Aug 13, 2010 by Laura Trowbridge
Donald Trump's attorneys have been battling a utility company in tax court for the overcharge of $2.7 million on Trump's Atlantic City casinos.
Donald Trump in  The Celebrity Apprentice:  Season 3
Donald Trump in 'The Celebrity Apprentice:' Season 3
Atlantic City Electric overcharged Trump's three Atlantic City casinos almost $3 million in utility taxes between the years of 1998 to 2001.
According to The New York Post, Trump's casinos in Atlantic City were able to recover the overpaid taxes they were charged by the electric company from 2001 to 2004, but they lost their appeal for the overcharges in the previous years.
The tax court ruled that "their filing on the earlier overpayment wasn't made within the four-year statute of limitations."
Trump's attorneys said that the statute deadline "should have been extended because the tax was not clearly stated on the bills." But the appeals court denied the claim and said the overcharge mistake could have been caught earlier.
Atlantic City Electric gets to keep the $2.7 million they overcharged, but the ruling is being reviewed by Trump and his lawyers to see if there is anything further they can do to recover the money.