Edison Affiliate’s $5 Million Suit Revived by Pennsylvania Court

An Edison International affiliate got another shot to claim a $4.9 million state corporate net income tax refund because an IRS audit determined an overpayment in taxes, a Pennsylvania appeals court held.

Mission Funding Beta Co. made its request more than three years after it paid its taxes which missed the deadline under Section 3003.1 of the Tax Reform Code of 1971, but Section 406(a) of the same law requires state authorities to grant refunds if an IRS audit determined there were overpayments, the Pennsylvania Commonwealth Court said.

• “While the language of Section 3003.1 of the Code sets forth the ...