10th Circ. Affirms Solar Energy Tax Credit Scheme Owes $50M

Law360 (June 2, 2020, 9:24 PM EDT) -- A Tenth Circuit panel affirmed a $50 million disgorgement order Tuesday for a solar energy company to return profits from promoting an abusive tax scheme that leased useless solar lenses to companies so they could claim solar energy tax write-offs.

The three-judge panel affirmed that solar energy property sold by RaPower-3 LLC and others was not eligible for energy tax credits, upholding a lower court's disgorgement order to return $50 million made from an underlying tax scheme marketing the selling of ineligible property for tax credits and deductions. The court also cited what it called ample evidence in affirming the lower court's...

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