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Why Gannett's Tax Appeal Was Shot Down

Gannett met the definition of a unitary business, so now it will be paying taxes in Maine for the sell-off of its $2.7-billion Midwest cable business.

November 21, 2008

In a tax case appeal settled on Tuesday, Maine's highest court unanimously ruled against Gannett Co. — and in favor of the pine tree state — regarding how much the media giant should pay in income taxes with respect to a gain it reaped from selling off its cable division eight years ago. At issue was whether Gannett's subsidiaries comprised a "unitary" business, which would give the state the right to tax the company on a portion of the sell-off. The case may have wider appeal, so it is worth examining the arguments, and subsequent court opinion. Read more...

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