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Dow loses second court battle over R&D tax credit
NEW YORK (Sept. 11, 1:30 p.m. ET) — A second court has ruled against Dow Chemical Co. in its effort to obtain a research and development tax credit. Dow is seeking the credit for supplies it purchases to make finished goods, when research is being conducted at the same time. A three-judge panel of the U.S. Court of Appeals for the Second Circuit in New York upheld Sept. 7 a previous ruling from the U.S. Tax Court that those supplies do not qualify.
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