Holtec International fined $5 million in tax credit investigation
New Jersey-based Holtec International will pay $5 million in penalties for attempting to secure more state tax credits than it was entitled to.
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The company hired to decommission Indian Point in Buchanan is being forced to pay millions as part of a criminal investigation led by the New Jersey attorney general.
New Jersey-based Holtec International will pay $5 million in penalties for attempting to secure more state tax credits than it was entitled to.
The lawsuit from the state alleges the company attempted to receive double tax credits from "The Angel Investor Tax Credit Program" in 2018. Holtec will avoid any further criminal prosecution as part of the deal.
In a statement to News 12, Holtec denies engaging in any misconduct. The settlement means the company can't apply for more "Angel Investor Tax”credits.
