November 1, 2018 / 10:49 PM / 19 days ago

U.S. Appeals Court rules against Sunoco in excise tax case

WASHINGTON, Nov 1 (Reuters) - The U.S. Court of Appeals for the Federal Circuit on Thursday upheld a lower court ruling that Sunoco not be allowed to claim $1 billion in alcohol fuel mixture credits on its federal excise tax returns, the U.S. Justice Department said.

In a statement, the department said Sunoco sought to reduce its federal income taxes with an excise tax expense that was never paid. It said the appeals court's decision upholding a ruling by the Court of Federal Claims was "precedential." (Reporting by Eric Beech; Editing by David Alexander)

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