In a tax decision with broad impact for manufacturers, the U.S. 2nd Circuit Court of Appeals...

|By:, SA News Editor

In a tax decision with broad impact for manufacturers, the U.S. 2nd Circuit Court of Appeals rules Dow Chemical (DOW +2.5%) could not retroactively claim R&D tax credits for improving how it made an existing product. Only $8M of R&D claims were at issue, but tax pros say the case was a key test of how broadly companies can claim the tax credit.