|
|
Article: Philip Morris Loses Round in Tax Dispute
- Article from:
- AP Online
- Article date:
- November 11, 2004
CopyrightThis material is published under license from the Associated Press. All inquiries regarding rights should be directed to the Associated Press. (Hide copyright information)
|
AP Online
11-11-2004
Dateline: RALEIGH, N.C.
A state Superior Court judge has ruled against Philip Morris USA in the company's lawsuit claiming North Carolina overcharged it on taxes.
Wake Superior Judge Donald Stephens ruled that the state was not wrong to require Philip Morris, a division of Altria Group Inc., to use a costlier tax formula than the one the Richmond, Va.-based cigarette maker wanted to use for the tax years 1989, 1990 and 1991.
Stephens ordered the state to pay Philip Morris about $1.7 million plus interest for applying a slightly less favorable tax formula than the one used by other companies that operate and pay taxes in more than one state.
Philip Morris, which runs a ...