The Alaska Supreme Court has ruled that amortization of commercial fishing permits and quota shares may not be deducted from income for child support purposes.
Much more detail in this very interesting 18-page opinion.
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2 comments:
Of course a permit and IFQs are intangible and perpetual assets. They bump up and down in value, but they do not "wear out".
They are not a seine net or a groundline or a reefer unit for petes sake.
The dude's lawyer conned him. Should have been straight with him. The judge got it right the first time, an appeal on this no brainer is a waste of money.
Always amazing to me that fathers who supposedly love their children try to get out of the obligation of paying child support using any means possible. The father in this case undoubtedly has good earnings yet wants to keep from paying proper support payments. And is willing to Pay attorneys a LOT of money to keep from providing for his kids. Screwed up values! Wonder what the kids will think of him when they find out later on.
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