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Sprint hit with $300 million tax fraud lawsuit,,oh goodie

By: capt_nemo in ROUND | Recommend this post (0)
Fri, 20 Apr 12 10:45 AM | 45 view(s)
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If things work like they have since the crash, Sprint will raise their monthly access and we get to bail them out of their little mess.Perfect...


sprint tax fraud lawsuit

NEW YORK (CNNMoney) -- New York's attorney general filed a tax fraud lawsuit against Sprint Nextel on Thursday, accusing the wireless carrier of intentionally underpaying sales tax in the state for seven years.

Starting in 2005, Sprint stopped collecting and paying New York sales tax on around 25% of the revenue from its fixed-price monthly cell phone plans, according to New York Attorney General Eric Schneiderman.

Its goal, he says, was to give itself a price advantage over its rivals. Verizon (VZ, Fortune 500), AT&T (T, Fortune 500), T-Mobile and MetroPCS (PCS) all collect the taxes Sprint is accused of shirking, according to Schneiderman.

He says that Sprint's "unlawful actions" cost the state more than $30,000 per day -- a $100 million underpayment, in total. Under New York state law, Sprint could be on the hook for as much as $300 million, plus penalties, if it is found liable.

"Sprint did not correct its sales tax practices when it was informed of its illegality, and it has not corrected them even today," a statement from

http://money.cnn.com/2012/04/19/technology/sprint-tax-fraud-lawsuit/index.htm?iid=HP_LN




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Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.




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