Nashua Corp. has settled an
outstanding tax claim by the New Hampshire Department of Revenue
Administration, and has agreed to pay $500,000. The amount, which includes
interest charges, will be paid from the company's existing reserves.
The settlement closes a case
dating from 1998 when the DRA issued a tax notice, principally related to the
sale of the company's International Office Systems business in 1990. The DRA
originally had sought payments of taxes and interest totaling $4.3 million.
``We are pleased to have
reached a responsible settlement with the New Hampshire DRA and put this matter
behind us,'' said Andrew Albert, Nashua's chairman and CEO.
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