Basic Search  |  Summaries  |  Advanced Search

Violation Tracker Individual Record

Company: Merck & Co., Inc.
Current Parent CompanyMerck
Parent at the Time of the Penalty Announcement subscribe to see this data field
Penalty: $2,300,000,000
Year: 2007
Date: February 24, 2007
Offense Group: financial offenses
Primary Offense: tax violations
Mega-ScandalTax Disputes
Violation Description: The IRS entered into an agreement that resolved several disputed tax issues with Merck & Co., Inc. and its subsidiaries. The agreement resulted in a payment to the government of approximately $2.3 billion in federal tax, net interest and penalties, and resolved all issues that had been in dispute between the parties for the tax years 1993-2001. Among the significant issues resolved were three issues that resulted from Merck's use of minority equity interest financing transactions.
Level of Government: federal
Action Type: agency action
Agency: Internal Revenue Service
Civil or Criminal Case: civil
HQ Country of Current Parent: USA
HQ State of Current Parent: New Jersey
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: pharmaceuticals
Specific Industry of Current Parent: pharmaceuticals
Source of Data(click here)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.