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New York State Sues Sprint Over Tax Fraud

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Ice berg ahead.

KOL4420

Apr 19, 2012, 11:51 AM
This is incredible... I am pretty speechless at both Sprint if this is actually true and at the State of NY wanting to collect three times the amount of the taxes that were not charged and then on top unspecified penalties.

How about the states all work towards demanding lowering the monthly charge for smart phones!
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Kenzin

Apr 19, 2012, 12:02 PM
Potential greed on both sides.

What I will say is that if Sprint's motivation was indeed to "lower bills" to get a one-up over competition, this will hurt their already fragile economic condition! They are already struggling to stay close to $4 a share...what could this do to them?!
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famoussasjohn

Apr 19, 2012, 12:03 PM
Get bought out by Verizon. Laughing
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Kenzin

Apr 19, 2012, 12:11 PM
LOL possibly...does Verizon have enough cash assets to purchase Sprint though I wonder? Or would they just do a hostile takeover?
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Phineas

Apr 19, 2012, 12:38 PM
At $4 a share anyone is interested, with billions of debt no one is.
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Versed

Apr 19, 2012, 10:43 PM
As of today, Sprints Market Cap is like 7.2 billion dollars. Of course takeovers pay a premium over that. Still I doubt this would happen after the AT&T/TMO affair.
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Jayshmay

Apr 20, 2012, 3:47 AM
Would the government really allow Vzn to swallow Sprint? If ATT couldn't buy Tmo, then I would think it would he safe to assume the government wouldn't let Vzn buy Sprint.
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jhr2112

Apr 19, 2012, 2:01 PM
Verizon can't buy Sprint, it would give them almost 150 million customers and wouldn't pass competition muster. Sprint will settle for a lower fine if found guilty.
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BigRed75

Apr 19, 2012, 2:15 PM
famoussasjohn said:
Get bought out by Verizon. Laughing


Verizon doesn't want or need Sprint.
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Andras888

Apr 19, 2012, 3:46 PM
I guess it's not true. Sprint is up against an infinitely arrogant state and city. Sprint should get three times the legal fees back in the end, plus some penalty from NYC and NYS.
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Versed

Apr 19, 2012, 10:44 PM
Of course if this was AT&T and or VZW, there would be about 121 posts saying how greedy they were and should be fined well over x3 the amount owed.
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XMegadeathX

Apr 20, 2012, 8:00 AM
DA TROOF!!!! Laughing
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JBlaze74

Apr 20, 2012, 9:40 AM
I wouldn't be one of them. Punitive damages to the state on taxes? WTF?!?!?!?! I don't care who the carrier is. This law is ridiculous, and I can only hope that when Sprint fights this in court, this law will be removed.
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Versed

Apr 20, 2012, 1:25 PM
Probably Sprint and NY will come to some settlement less then what was asked or claimed.
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