Intel said IRS settlement to reduce tax burden
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Chipmaker Intel Corp. said on Thursday it will set aside $275 million less than it had planned for taxes as a result of a settlement with the U.S. Internal Revenue Service, and says its 2007 tax rate will be lower than expected.
The IRS told Intel on Tuesday it closed its examination of the chipmaker's tax returns for the years 1999 to 2002, resolving several issues, including the tax benefit for export sales. The two sides also agreed on the tax benefit for export sales for the years 2003 through 2005.
In connection with the settlement, the company expects to reverse previously accrued taxes, which will reduce the current quarter's tax provision and reduce the income tax rate for 2007 below the previous forecast of about 30 percent.
In February, Intel said it would appeal an IRS tax adjustment related to export sales that could increase its tax due by $2.4 billion from 1999 through 2006.
Intel has been contesting the issue since August 2003 when the IRS first gave it notice of the adjustment.
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Grounds for Divorce in Ohio - Sylkatis Law, LLC
A divorce in Ohio is filed when there is typically “fault” by one of the parties and party not at “fault” seeks to end the marriage. A court in Ohio may grant a divorce for the following reasons:
• Willful absence of the adverse party for one year
• Adultery
• Extreme cruelty
• Fraudulent contract
• Any gross neglect of duty
• Habitual drunkenness
• Imprisonment in a correctional institution at the time of filing the complaint
• Procurement of a divorce outside this state by the other party
Additionally, there are two “no-fault” basis for which a court may grant a divorce:
• When the parties have, without interruption for one year, lived separate and apart without cohabitation
• Incompatibility, unless denied by either party
However, whether or not the the court grants the divorce for “fault” or not, in Ohio the party not at “fault” will not get a bigger slice of the marital property.