Verizon Decides to Stop Paying Tax on NJ Poles, Wires
HACKENSACK, N.J. (AP) -- Verizon is telling New Jersey towns that it will stop paying local taxes on utility poles, wires and other equipment because people are using other means to communicate.
Steve Sandberg reports.
Municipal leaders in cash-strapped towns say the loss of revenue could force them to shift the costs to homeowners.
The Record of Bergen County reports Verizon is using a 1940 state law to argue traditional telephone use has slipped significantly as people turn to cable and the Internet for phone services.
Verizon says the law requires the company to pay taxes on landline equipment only when it is the dominant provider. The company says it is losing more than 35,000 residential phone customers a month due to competition.
The state attorney general is looking into whether Verizon is following the law.
TM & Copyright 2008 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO & EYE Logo TM & Copyright 2008 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.
1010 WINS is the 24-hour all-news radio station for New York City, New Jersey, Connecticut and Long Island including Manhattan, Brooklyn, Queens, Bronx, Staten Island, Nassau County, Suffolk County, Fairfield County, Bergen County, Essex County, Long Island, Westchester County, and Rockland County. Listen on air and online for breaking world news, New York City news, New York City traffic and transit, Tri-State area traffic and transit, New York sports, New York City weather, tri-state weather and much more. Download free podcasts and listen to New York news and audio press conferences. Listen online to top New York radio news broadcasters including John Montone, Judy DeAngelis, Steve Torre, Sandy Kenyon, Dr. Brian McDonough, Lee Harris, Paul Guanzon, Mark Hilan, Lori Madden, Juliet Papa, Doug O'Brien, Terry Sheridan, Al Jones, Steve Kastenbaum, Carol D'Auria, Brian Carey, Sandi Klein, Mona Rivera, Susan Richard, Catherine smith, Glenn Schuck, Alice Stockton-Rossini, INS. 1010Wins.com is also available in HD Radio. www.1010wins.com
E-Mail Story
Print Story
