Web News Article #: 134-2015
06/25/2015 – Need another reason to be crabby with Staples?
According to a May 28 ruling, the office supply chain owes the state of Maryland $14.3 million in back taxes.
The state comptroller found that Staples, Inc. and, Staples the Office Superstore, “operated, at least in part, to avoid income taxes in the state of Maryland,” between 1999 and 2004. The trickery allegedly began in 1998, when Staples reorganized.
“To minimize or eliminate its state tax liabilities in separate return states like Maryland, Staples undertook a reorganization that created a new scheme for shifting income using royalty and interest expenses,” the ruling said.