U.S. justices rule for PPL Corp in overseas tax case

WASHINGTON Mon May 20, 2013 10:17am EDT

WASHINGTON May 20 (Reuters) - The U.S. Supreme Court on Monday ruled for utility PPL Corp over its dispute with the U.S. Internal Revenue Service concerning credits the company claimed to offset overseas tax payments.

The court ruled on a unanimous vote that Pennsylvania-based PPL can claim $39 million in U.S. foreign tax credits against a 1997 British windfall tax.

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