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SEC Poking Around Sprint's Tax Collection Practices, Too

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Aug 2, 2012, 3:38 PM   by Eric M. Zeman

Sprint today revealed that the Securities and Exchange Commission is investing its state and local tax collection practices. The SEC's investigation follows a similar investigation filed by the attorney general of New York State earlier this year. "Sprint recently received a subpoena from the Securities and Exchange Commission in connection with its investigation of our practices in the collection and remittance of state and local taxes, including those in New York," said Sprint in a statement. "Sprint is cooperating with the SEC in regards to its inquiries and we believe our practices with respect to state and local taxes on mobile wireless services are in compliance with applicable law." Further, Sprint characterized New York State's ase as "without merit" and said it would "stand up for New York consumers' rights and fight this lawsuit."

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