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Verizon Unit Loses NJ Bid To Restore $271M Tax Deduction

By Bill Wichert ( June 15, 2018, 4:03 PM EDT) -- MCI Communication Services Inc. lost its bid to restore a roughly $271 million tax deduction after a New Jersey state appeals court on Friday upheld 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....

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