Sprint Agrees to Pay $330M In Tax Settlement

[cdmagurus.com]

Sprint has agreed to pay the state of New York $330 million to settle a False Claims Act lawsuit filed way back in 2011. New York claimed that Sprint failed to collect more than $100 million in state and local taxes over a period of 10 years. "Sprint knew exactly how New York sales tax law applied to its plans -- yet for years the company flagrantly broke the law, cheating the state and its localities out of tax dollars that should have been invested in our communities,” said New York State Attorney General A.G. Underwood. “Now, Sprint will pay the price with this record-setting settlement." The issue came to light in 2011 when a whistleblower reported the fraud to the state. The whistleblower will receive $62.7 million under New York law, which entitles them to a share of the recovered funds. Sprint said it was pleased to have resolved the matter.


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