Covington Sues Clear Channel For Back Taxes - Radio World

Covington Sues Clear Channel For Back Taxes

Covington Sues Clear Channel For Back Taxes
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The city of Covington, Ky., has filed a lawsuit against Clear Channel, claiming the media company hasn't paid its business taxes for the past six years since the Jacor purchase. That's according to a report in The Kentucky Post, which states the city hasn't put a dollar amount in the filing.
City Solicitor Jay Fossett is quoted as saying the city needs more documentation to determine how much money Clear Channel owes.
Clear Channel bought Jacor in 1999 and subsequently moved its corporate headquarters to San Antonio, Texas. Clear Channel retains a Covington office.
The media company has paid payroll tax for the Covington employees but has not filed a net profit return, Covington Finance Director Bob Due told the Post. The city imposes a business license fee of 2.5% on all net profits "from activities conducted in the city," states the report.

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