Kids may love Geoffrey Giraffe, but tax officials in some states see the Toys "R" Us mascot as an emblem of a rancorous tax-collection issue. To the tax man, Geoffrey stands for Geoffrey Inc., an intangible holding company that collects royalties and other payments from the toy retailer's own outlets. These corporate entities -- used by many companies like Wal-Mart and the Gap -- are coming under a new wave of attacks.
January 28, 2004 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
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