Ill. Appeals Court Backs Wendy's In $2.4M Tax Dispute

Law360, New York (November 13, 2013, 5:52 PM EST) -- Wendy's International Inc. may be entitled to a $2.4 million tax refund after an Illinois appeals court determined that the fast food chain was allowed to exclude from its state income taxes a subsidiary that was created to supply the company's insurance, according to a ruling obtained Wednesday.

The appeals court said Wendy's properly excluded its Scioto Insurance Co. unit from its Illinois income tax returns from 2001 to 2006, ruling Scioto qualifies as an insurance company for tax purposes. Although only a relatively small portion...
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