Sprint To Pay $330 Mln To New York To Settle Unpaid Tax Suit

( - Sprint has agreed to pay New York$330 million in a settlement over claims it avoided collecting certain local and state taxes on cellular plans between 2005 and 2014.

A lawsuit filed by New York Attorney General Barbara Underwood had alleged that for nearly a decade Sprint knowingly failed to collect and remit more than $100 million in state and local sales taxes owed on its flat-rate wireless calling plans sold to New Yorkers.

The $330 million recovery is the largest-ever recovery by the New York Attorney General resulting from an action filed under the New York False Claims Act.

"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 Attorney General Underwood.

"Now, Sprint will pay the price with this record-setting settlement. This should serve as a clear reminder that the New York False Claims Act protects New Yorkers from companies that attempt to flout their obligations under New York tax law."

Read the original article on RTTNews (

For comments and feedback: contact

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story



Founded in the late 1990s by Andrew Mariathasan in New York, with the goal of covering Wall Street for a new generation of investors, RTTNews has expanded steadily over the years to become a trusted provider of content for a wide array of subjects across several platforms. RTT's Financial Newswire is relied upon by some of the world's largest financial institutions, including banks, brokerages, trading platforms and financial exchanges.

Learn More