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Houston, June 9, 2009
Today the 5th Circuit Court of Appeals vacated the Southern District Court's ruling in U.S. v. McFerrin. The McFerrins had co-founded KMCO, Inc., a Corporation located in Texas that manufactures commodity and specialty chemicals. They engaged alliantgroup, the nation's leading provider of tax services to small to large businesses, to determine whether KMCO's expenditures for research and development (R&D) were eligible for the R&D Tax Credit. alliantgroup conducted the study and established that KMCO had conducted activities that qualified for an R&D Tax Credit of $601,288 (interest included). [more]
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