Path: utzoo!attcan!uunet!lll-winken!ames!ncar!boulder!sunybcs!ugdill
From: ugdill@cs.Buffalo.EDU (Peter Dill)
Newsgroups: comp.sys.amiga
Subject: Re: CBM vs. IRS
Message-ID: <3868@cs.Buffalo.EDU>
Date: 26 Jan 89 19:56:56 GMT
References: <12500004@tippy>
Reply-To: ugdill@sunybcs.UUCP (Peter Dill)
Organization: SUNY/Buffalo Computer Science
Lines: 28

In article <12500004@tippy> bah@tippy.uucp writes:
>
>This might be of interest to most readers of this group. From the Financial
>Notes section of the Jan.16-20 edition of TWICE magazine. Quote----
>
>"Commodore has been hit by the IRS for $74.1 million in back taxes for
>overseas earnings in 1981-83. The computer maker says it will challenge
>the claim, and notes that its tax credits more than cover the claim."-----
>End of Quote.
>
>Hate to think what this will do to CBM if the IRS wins this one (and they
>rarely come out empty-handed).

  I say mention of this in the Wall St. Journal a couple of weeks back. Appear-
ently CBM claims that it is based in the Bahamas while the IRS is trying to tax
it like it was in the US. Anyway the article mentioned that CBM has 128 million
in tax credits from previous losses hanging around to use against any judgement
, so expect Commodore's R+D budget to continue unabaited at 93 million :-).

                                                Peter Dill


ugdill@sunybcs                                | "As a rule of course, we just 
ugdill@joey.cs.buffalo.edu                    |don't care ."
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