An electrical systems manufacturer isn’t entitled to a tax credit for fixed capital investments made by its two subsidiaries, a Connecticut trial court has ruled.
Marmon Wire & Cable Inc. sought fixed capital investment credits for tax years 2016 and 2017 for purchases made by two wholly-owned limited liability companies, RSCC Wire & Cable LLC and Marmon Utility LLC. Marmon Wire’s ultimate parent is
Entities that are disregarded for tax purposes, such as the subsidiaries here, are treated in the same way as a division of the owner, except that they are treated as separate ...