Federal appeals court tosses out $1.4B tax ruling favorable to Medtronic
(WorldNews Business)

A federal appeals court has tossed out a $1.4 billion U.S. Tax Court ruling that found in favor of Medtronic, saying that the lower court failed to analyze several relevant factors related to the Minnesota-run medical device company`s past taxes. The dispute involves the taxes owed on heart devices and leads manufactured at Medtronic factories in Puerto Rico in 2005 and 2006. Medtronic`s internal accounting had placed most of the tax...