Sysco Reaches Tax Payment Deal With IRS
Stock quotes in this article:
SYY
HOUSTON (AP) Food supplier Sysco Corp. said Tuesday it has reached an agreement with the Internal Revenue Service to pay about $952 million in disputed taxes and interest related to its Baugh Supply Chain Cooperative.
The three-year payment plan will result in "a modest increase" in first-quarter 2010 profit as it records a $30 million after-tax benefit, or 5 cents per share, due to interest already accrued. The Houston-based company said in a statement that it has sufficient liquidity to pay the tax and interest on schedule.- Loading Comments...
- Loading Comments...
Recent Comments
Featured Photo Galleries
Connect with TheStreet
 |
 |
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,309.92 | 1,091.49 | 2,138.44 | 32.31 |
Oil *
77.12
|
|
DOWN
154.48
|
DOWN
19.14
|
DOWN
37.61
|
DOWN
0.48
|
10 Yr
3.23%
SPDR Gold
115.06
|
|
-1.48%
|
-1.72%
|
-1.73%
|
-1.46%
|
Data delayed 20 minutes |
