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Update: Apple Sues State of Florida Over Additional Corporate Income Tax Assessment
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Update: Apple Sues State of Florida Over Additional Corporate Income Tax Assessment
Jul 11, 2024 9:21 AM

11:54 AM EDT, 07/11/2024 (MT Newswires) -- (Updates with additional details in second, third paragraphs and MT Newswires' requests for comment)

Apple ( AAPL ) filed a lawsuit on Wednesday to contest the Florida Department of Revenue's assessment for additional corporate income taxes from the company totaling $14.8 million.

The complaint covers four legal issues including whether Apple's ( AAPL ) digital services revenue should be sourced to Florida, if service and other income should be included in the sales factor denominator, and whether interest on any tax assessment should be waived due to delays caused by the department.

The company's complaint seeks a judgment that will invalidate the department's assessment and abate interest on any sustained assessment.

Neither Apple ( AAPL ) nor the department immediately responded to MT Newswire's requests for comment.

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