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Article: Sprint Nextel and Missouri Municipalities Reach Settlement of Tax Dispute.
- Article from:
- Business Wire
- Article date:
- December 20, 2007
CopyrightCOPYRIGHT 2007 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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RESTON, Va. -- Sprint Nextel (NYSE:S) announced today that it has reached a preliminary settlement of tax litigation involving more than 350 municipal governments across Missouri. Under the terms of the agreement, which must be approved by St. Louis County Circuit Judge Bernhardt C. Drumm, Jr. as well as the cities themselves, Sprint Nextel will pay $52.2 million in back taxes and legal fees. In turn, the cities will end all litigation against Sprint Nextel and its subsidiaries. In addition, Sprint Nextel will dismiss all tax protest litigation against the cities.
If approved by Judge Drumm and the city councils of the governments who participated in this class ...