Fill out this form to email this article to a friend

Your name		Your email
Recipient email	You may enter up to 20 multiple email addresses, separated by commas.
Your message
Validation Code	Hear validation code
	Enter validation code

We were unable to send your email.

Click here to try again.

Alico settles IRS dispute for $64.5-million

By Kris Hundley, Times Staff Writer
Posted: Jul 01, 2008 08:10 PM

Story Tools E-mail this story Contact the editor Print this story Comment on this story Social Bookmarking Digg Facebook Stumbleupon Reddit Del.icio.us Newsvine

ADVERTISEMENT

Alico Inc. and its insurance subsidiary have settled a long-running dispute with the Internal Revenue Service with a $64.5-million settlement. The payment was $1.7-million below previous company estimates and will result in a refund and reduction in income tax expense for the citrus and cattle business for fiscal 2008. The company, based in LaBelle, will also recognize an additional deferred tax asset of about $3.5-million for 2008. Alico owns 135,500 acres in Collier, Glades, Hendry, Lee and Polk counties.