Education budget could get $34M from tax dispute
Published 12:00 am Saturday, February 27, 2010
MONTGOMERY (AP) — A ruling by the Alabama Supreme Court could mean the state will be able to collect as much as $34 million from the Kimberly-Clark Corp. and its Kimberly-Clark Worldwide subsidiary.
Revenue Commissioner Tim Russell said the money from the verdict will go into the cash-strapped education budget if the ruling stands.
The court on Friday reversed a 2008 ruling by the Alabama Court of Civil Appeals that said the companies did not owe the state all the tax money from the sale of their Coosa Mill paper mill in Coosa Pines and 375,000 acres of timber land that supplied the mill. The Court of Civil Appeals had reversed a ruling by Montgomery County Circuit Judge Johnny Hardwick in favor of the Revenue Department.