Lowe's obtains Washington Supreme Court judgment allowing refund of taxes paid on defaulted PLCC credit sales

Client(s) Lowe's Companies, Inc.

Jones Day successfully represented Lowe's Home Centers, LLC in the Washington Supreme Court in obtaining refunds of state sales and business and occupation taxes paid on credit sales to customers who used private label credit cards ("PLCCs") and later defaulted. Unlike most refund cases involving bad debt PLCC accounts, Lowe's guaranteed to the issuing banks all customer payments up to an agreed-upon cap. Jones Day, representing Lowe's, obtained this important decision of first impression.

Lowe's Home Centers, LLC v. Department of Revenue, State of Washington, No. 96383-5 (Wash.)