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Nuclear Power Co. Loses Fight For NY Tax Credits

Law360, New York (July 16, 2015, 7:18 PM EDT) -- A New York appeals court on Thursday denied a nuclear power plant operator’s bid for manufacturing tax credits in a dispute with the state’s Tax Appeals Tribunal, rejecting arguments that certain plant components are used to manufacture and process goods other than electricity.

Constellation Nuclear Power Plants LLC argued that it was eligible for investment tax and industrial manufacturing business credits because equipment such as reactor vessels, steam generators and condensers produce steam and water — two items qualifying as “goods” for purposes of the credits....
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