Valero sues to recover $122 million in taxes

San Antonio-based fuel refiner Valero Energy Corp. has filed a lawsuit seeking the return of nearly $122 million in taxes because the company claims the U.S. government failed to credit it for the production of alternative fuels.

Between January and March of 2015, Valero (NYSE: VLO) said it paid $565 million to the Internal Revenue Service for fuel sales. Part of that money should have been returned to the company under a federal statute that reimburses refiners for blending in certain alternative…


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