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Linda McMahon’s WWE Cheated Connecticut Taxpayers, Caught When Audited By State

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recently unearthed audit conducted by the state shows that under the leadership of CEO Linda McMahon, the WWE cheated Connecticut taxpayers out of more than $4 million in state taxes. The audit investigated the international wrestling corporation’s finances between 2005 and 2007, and found that WWE failed to pay millions in corporate taxes by wrongly using a tax accounting strategy not permitted to them under Connecticut law. According to the documents, WWE eventually reached a $4.4 million settlement with the state to repay the taxes and penalties it owed.

The news that McMahon’s WWE avoided $4.4 million in Connecticut taxes is particularly shocking, since the company has claimed over $22 million in tax credits over the past few years

Categories: General

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3 Responses

  1. BettyFawcett says:

    There was a legitimate dispute over taxes and how much was owed to the state. WWE and the state settled the matter. WWE paid the taxes it owed. It did not avoid any taxes. WWE is a solid Connecticut-based, publicly traded corporation that has created numerous jobs here.

  2. John says:

    It appears that actually WWE paid any taxes which were owed. So what is the beef?

    The tax code is so complex that many companies and individuals either ammend their returns or settle with IRS when a disagreement occurs.

    Personally, I get a correction to my tax returns from the IRS nearly every year and normally pay these. It does not mean anyone is avoiding taxes.

  3. Marcus says:

    Jonathan, it would take you all of 30 seconds to do your homework (as your readers like me do). You clearly don’t understand business or tax matters. Please read http://concussioninc.net/?p=6186. You’re welcome.