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PepsiCo Challenges $2.1M Tax Penalty In Ill. Supreme Court

By Maria Koklanaris ( July 11, 2025, 6:46 PM EDT) -- Illinois' justices should overturn lower court decisions allowing $2.1 million in penalties on PepsiCo for categorizing Frito-Lay expatriates' compensation as foreign payroll, a categorization that excluded Frito-Lay's profits from PepsiCo's state income tax calculations, the food and beverage giant said in a petition....

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