Supreme Court rejects BB&T's appeal over nearly $500M in tax credits

The U.S. Supreme Court this week rejected a bid by BB&T Corp. and two other corporations to try to recoup millions in foreign tax credits that had previously been denied by the Internal Revenue Service. The court declined to review the Winston-Salem-based bank's case, which had seen lower courts rule in favor of the IRS and uphold a denial of the tax credits. American International Group and Bank of New York Mellon Corp. also had their similar cases rejected by the court. "We are disappointed at…

from Charlotte Business News - Local Charlotte News | Charlotte Business Journal http://www.bizjournals.com/charlotte/blog/bank_notes/2016/03/supreme-court-rejects-bb-ts-appeal-over-nearly.html