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McKesson Corp. wants Georgia to refund the taxes the company paid on phantom profits. The state says no, and the matter is now headed for resolution in Fulton County Superior Court. interest. McKesson is not unique in seeking to reclaim taxes on nonexistent profits cited as fraud by the Securities and Exchange Commission. The case brings to light a peripheral issue stemming from the coprorate practice of overstated earnings that brought down the likes of Enron and Worldcom.
March 11, 2004 at 12:00 AM
1 minute read
The original version of this story was published on The Recorder
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