Sprint Nextel said today that the Securities and Exchange Commission is looking into the company's tax collection practices, following a related lawsuit filed by the state of New York.
In April, New York Attorney General Eric Schniederman filed a lawsuit against the Overland Park, Kan., wireless carrier, alleging it had stiffed New York state out of $100 million in taxes. Schniederman sought $300 million as a penalty.
Specifically, the suit deals with whether Sprint properly collected taxes from its customers to be paid to New York.
The SEC probe could suggest that the issue goes beyond New York. Sprint … Read more