By: Forbes Real Time
September 19, 2013 at 08:48 AM EDT
IRS Gets Big Win In Corporate Tax Holiday Case, Readies For Next Fight
In a case that many multinational companies were watching closely, Texas computer systems company, Inc., lost a key tax dispute with the Internal Revenue Service in U.S. Tax Court (Tax Court No. 015675-11 BMC Software Inc. v Commissioner of Internal Revenue). As a result, the company, which was acquired this week by a private investor group led by Bain Capital LLC (yes, that Bain Capital) and Golden Gate Capital together with Insight Venture Partners, GIC Special Investments Pte Ltd, and Elliott Management Corporation, will have to pay $12.9 million plus penalty and interest.
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