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Lyft Inc Newsroom
Why Is Lyft, Inc. (LYFT) Among The Best TaaS Stocks To Invest In According to Hedge Funds?
Lyft (NASDAQ:LYFT) Battles San Francisco Over $100M Tax Dispute
Lyft Sues San Francisco for Allegedly Overcharging $100M in Taxes
USA Online Car-hailing giant Lyft has sued the city of San Francisco for overcharging it by 0.1 billion USD in taxes.
The USA's Online Car-hailing giant Lyft filed a lawsuit against the city of San Francisco on Tuesday, accusing the city of overcharging it $0.1 billion in taxes from 2019 to 2023. Lyft argues that the city's authorities incorrectly classified the amounts paid by passengers to drivers as company revenue, which is not how Lyft operates. The company stated that Lyft's revenue comes from fees paid by drivers, not from amounts paid by passengers, which is consistent with the handling of driver compensation by the USA Securities and Exchange Commission (SEC). Lyft is seeking a refund for these overcollected taxes, including penalties and interest.
Lyft Sues San Francisco Over $100 Million Tax Bill, Says Payments To Drivers By Passengers Misclassified
Lyft Accuses San Francisco of Overcharging $100 Million in Taxes
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