Fenwick partner Michael Solomon
was quoted in a Reuters
article titled “Dow Chemical Loses U.S. Court Test of R&D Tax Credits
.” The article discusses the recent district court of appeals decision in favor of the Internal Revenue Service that companies cannot claim research and development tax credits retroactively for manufacturing process improvements more than 10-years-old. The case was viewed as a key test of how broadly companies can claim the R&D tax credit. Automotive and defense companies "have a huge interest in this," said Solomon.