Court rejects Exelon's $80 million tax case
The U.S. Supreme Court rejected a bid by Exelon Corp., the biggest U.S. utility owner by market value, for $80 million in credits on its Illinois taxes.
The justices today left intact an Illinois Supreme Court ruling that said Exelon could claim a state investment tax credit only prospectively. Chicago-based Exelon said in its appeal that the ruling would cost the company $80 million in refunds it sought.
The case stemmed from property bought in 1995 and 1996 by Exelon’s Commonwealth Edison subsidiary.
The case is Exelon v. Illinois Department of Revenue, 09- 759.
Article Comments
Guidelines: Keep it civil and on topic; no profanity, vulgarity, slurs or personal attacks. People who harass others or joke about tragedies will be blocked.
If a comment violates these standards or our terms of service, click the "flag" link in the lower-right corner of the comment box. To find our more, read our FAQ.