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• The Wall Street Journal reports that “a North Carolina state-court judge ruled against Wal-Mart Stores in a closely watched tax-shelter case involving an arrangement in which the retailer essentially paid rent to itself and then deducted the amount from its taxes.” The judge said that Wal-Mart had structured the arrangement for no other reason than to avoid paying taxes, and “dismissed Wal-Mart's suit, in which it sought a refund of $33.5 million in taxes, interest and penalties that it paid after state tax authorities determined it had underpaid by that amount.”

Wal-Mart has said that it is considering an appeal, but has not made a decision.

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