Judge to decide if R.J. Reynolds has underpaid state
PASCAGOULA — A Jackson County judge is scheduled to hear a claim that R.J. Reynolds Tobacco Co. has underpaid the state of Mississippi at least $1 million in the tobacco settlement payments.
The Mississippi Press reports that Jackson County Chancery Judge Jaye Bradley will preside today over the non-jury trial.
Attorney General Jim Hood sued in 2010 alleging R.J. Reynolds “misrepresentation and overstated 1997 base-year profit has resulted in artificially low payments to Mississippi for 2001 and for every year thereafter in which Mississippi was entitled to a net operating profits adjustment.”
The company was part of a tobacco master settlement agreement in 1997 that included 46 states. Mississippi’s share of the 25-year, $206-billion settlement with the 46 states is expected to be approximately $3.6 billion.
Source: Mississippi Press
To sign up for Mississippi Business Daily Updates, click here.
Twang & Tourism: The Country Music Trail
FOLLOW THE MBJ ON TWITTERMy Tweets
Top Posts & Pages
- Judge to hear from True the Vote as McDaniel attempts to overturn loss to Cochran
- Under state probe, All American Check Cashing gets ‘F’ rating from Better Business Bureau
- DAVID DALLAS: Mr. McDaniel goes to Washington
- Three indicted, alleged to have embezzled from agency
- Walker sentenced to 18 months for fraud, conspiracy
- Manning family establishes health care initiative at UMMC
- Weyerhaeuser investing $57M to modernize lumber mill
- Google chooses Mad Genius as example of Internet use
- Communities awarded national Main Street accreditation