Calif. Companies That Paid No Tax Get &#36;5M
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Three California companies that paid no state income tax last year have been awarded &#36;5 million in tax refunds, angering critics who say the cash-strapped state cannot afford them.
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So long, Dan George Jr. The businessman from Rockport was sentenced to 2 1/2 years in federal prison last week for the overly aggressive tax strategy employed by his company. He paid no taxes and, in fact, filed no returns at all for four years, according to prosecutors.
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The San Francisco-based company said that it earned $267 million during its fiscal fourth quarter, which ended Nov. 25, up from $96 million at the same time in 2006.
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Three California supermarket chains have settled a suit filed by immigrant janitors who said they often earned below minimum wage and were never paid overtime.
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SACRAMENTO A California commission has approved 82 (m) million dollars in tax refunds to nearly two dozen companies that didn&#39;t actually pay state income tax.
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InfoWorld - The Business Software Alliance has collected a record settlement of nearly $3.5 million from an international media firm that was using&#160;unlicensed software, the trade group announced Tuesday.
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MCI Inc. , the No. 2 U.S. long-distance company, said on Monday it would record noncash impairment charges of about &#36;3.5 billion in the third quarter, mostly for property, plant and equipment.
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ORLANDO, Fla., Jan 10 -  - Actor Wesley Snipes paid no federal taxes on $37.9 million in income from 1999 to 2004, even after the Internal Revenue Service told him in 2002 that he was under criminal investigation, according to documents filed ahead of Snipes' tax fraud trial.
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A consortium of private equity firms agreed to pay $8.5 billion, nearly $2 billion less than the original agreement.
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Who wouldn't like to make $35,000 for doing nothing?
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Driving the companyâs loss, which amounts to $31.85 a share, was a $5.21 billion write-down on its portfolio of credit derivatives.
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Viacom Inc. and The Walt Disney Co. agreed Thursday to pay a total of &#36;1.5 million to settle government charges the companies violated advertising limits for children's television programming.
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ORLANDO, Fla., Jan 10 -  - Actor Wesley Snipes filed no tax returns on $37.9 million in income from 1999 to 2004, even after the Internal Revenue Service told him in 2002 that he was under criminal investigation, according to documents filed ahead of Snipes' tax fraud trial.
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A Wisconsin judge's refusal to order the state to refund sales tax paid by a Neena, Wis., company on a customized SAP AG rollout could relieve the state from paying out more than a quarter of a billion dollars in tax refunds to software users.
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NEW YORK - The effective tax rate for America&#39;s largest and most profitable corporations has sharply declined in recent years, and one third of such companies paid zero taxes--or less--in at least one of the last three years, according to a study released
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MCI Inc. (MCIP.O) has offered to pay states from 2 cents to 30 cents on the dollar to settle charges it owes them as much as &#36;2 billion in back taxes, people familiar with the matter said on Thursday.
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More than 40 percent of Pentagon business, a total of $362 billion, has been awarded on a no-bid basis over the last six years.