Friday, April 20, 2012

Sprint smacked with $300 million tax fraud lawsuit


CNNMoney reports that 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…

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