NJ Appeals Court OKs $210M Prudential Tax Credit

Law360, New York (August 22, 2013, 9:17 PM ET) -- A New Jersey appellate panel on Thursday upheld a $210 million tax credit granted to Prudential Financial Inc. to defray construction costs for new offices, rejecting a claim that a state agency had given Prudential the credit because of an improper relationship with a consulting firm with which both had worked.

A three-judge panel of the Superior Court of New Jersey’s Appellate Division declined to disturb the tax credit, granted to Prudential to defray construction costs for new offices in downtown Newark, N.J. A real estate consortium...
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