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Toys ‘R’ Us Owner Owes $3M in Taxes, Court Says

(CN) - The owner of the Toys 'R' Us and Kids 'R' Us trademarks must pay more than $3 million in corporate excise taxes, interest and penalties for royalties received from 1997 to 2001, the Massachusetts Supreme Court ruled.

The court determined that Geoffrey Inc.'s business activities in the state, including licensing its trademarks to Toys 'R' Us Mass Inc. and Baby Superstore subsidiaries, created a "substantial nexus" with the state, justifying taxation.

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