Wolfspeed, a Durham-based semiconductor supplier, announced earlier this week that it has received $698.6 million in cash tax refunds from the Advanced Manufacturing Investment Credit (AMIC) under Section 48D of the Internal Revenue Code from the Internal Revenue Service (IRS) under a provision in the 2022 CHIPS Act.
The news comes just over two months after the company announced that it had emerged from Chapter 11 bankruptcy protection following the completion of its financial restructuring process.
The company announced in June that it planned to file for Chapter 11…