ATLANTA -- The U.S. 11th Circuit Court of Appeals here upheld a lower court ruling that Winn-Dixie Stores, Jacksonville, Fla., was not entitled to deduct interest or fees incurred in borrowing against insurance policies it owned on the lives of more than 36,000 employees.
local newspaper reported that the company owed the government $1.6 million.
According to the appeals court ruling, in 1993 Winn-Dixie purchased whole-life insurance policies on almost all its full-time employees, with ...
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