Kyocera Denies US Claim That Tax Liability Stops $7 Million Suit

A multinational electronics manufacturer contested the US government’s bid to toss its $7.04 million tax refund lawsuit from federal court, disputing an assertion by officials that the company still owes part of its tax assessment.

Kyocera AVX Components Corp. says the government owes it two major tax refunds: one $1.31 million payment for its revised scientific research tax credit under IRC Section 41, and one $5.73 million payment for its reduced transition tax liability under Section 965. Its amended complaint, filed in June 2023, reduced its refund claim down from $8.9 million.

The Justice Department asked the US ...