Philadelphia Loses Blue Cross Tax Credit Challenge

Law360, New York (November 18, 2013, 1:51 PM ET) -- A Pennsylvania appeals court on Monday denied Philadelphia's bid to rescind millions in tax credits the city's tax board gave to two Independence Blue Cross subsidiaries, ruling the board was operating within its discretion when it awarded the credits, which were used to offset prior business tax overpayments.

In a 2-1 decision, the panel affirmed the Philadelphia Tax Review Board's 2012 award of tax credits to QCC Insurance Co. and Keystone Health Plan East Inc. The majority held that members of the board had the authority...
To view the full article, register now.