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HP Loses Case on Calculating Research Tax Credit (Reuters)

Dispute involves tens of millions of dollars, according to court documents.

A court ruled that Hewlett-Packard could not exclude income such as dividends and interest when it calculates the research tax credit, Reuters reports. The court case was HP’s challenge of an IRS ruling that the company owed taxes related to the research tax credit for the years from 1999 to 2003 because it had excluded such income.

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