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U.S. Supreme Court rejects Dow over $1 billion tax deduction claim
January 9, 2017 / 2:40 PM / a year ago

U.S. Supreme Court rejects Dow over $1 billion tax deduction claim

WASHINGTON, Jan 9 (Reuters) - The U.S. Supreme Court on Monday declined to hear Dow Chemical Co’s bid to revive its claim to more than $1 billion in tax deductions based on partnerships the company entered into that lower courts said were created primarily to avoid tax liability and had no legitimate business purpose.

The justices left in place two rulings by the New Orleans-based 5th U.S. Circuit Court of Appeals in favor of the U.S. government over the two partnerships that ran from 1993 to 2003. (Reporting by Lawrence Hurley; Editing by Will Dunham)

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