Nashville, Tenn.-based Hospital Corporation of America and the Florida Department of Revenue have settled a years-long corporate income tax battle worth more than $60 million, reports Florida Trend.
Below are five things to know about the dispute.
1. The dispute involves lawsuits related to HCA's tax returns in Florida from 1994 to 2012.
2. HCA first filed suit against the Florida Department of Revenue in 2011 challenging nearly $760,000 in interest payments the department said HCA owed on its 1994 state taxes.
3. Florida's Department of Revenue brought a suit against the hospital chain in 2014 alleging it owed $10.4 million in back taxes to the state, including $3 million in interest from unpaid taxes between 2007 and 2009. HCA disputed the claims and contended the state owed HCA refunds for overpayments. Specifically, HCA claimed it made overpayments of nearly $10 million between 2012 and 2013.
4. Under the terms of the settlement obtained by Florida Trend, Florida's revenue department has stopped pursuing money from HCA in back taxes. Similarly, HCA agreed to drop its claims the state owed HCA refunds for overpayments.
5. Records from the Florida Attorney General's office show the entities reached a settlement March 28, reports Florida Trend. HCA withdrew its suit against the department of revenue March 30.