NJ Justices Nix Verizon Bid To Restore $271M Tax Deduction

By Bill Wichert (October 19, 2018, 6:12 PM EDT) -- MCI Communication Services Inc. has fallen short in its bid to restore a roughly $271 million tax deduction after the New Jersey Supreme Court declined to review a ruling that the business must pay state tax in connection with income derived from canceled debt that was "pushed down" by its parent company, Verizon unit MCI Inc., according to an order made available Friday....

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