Fiserv Unit Beats $3.4 Million Florida Corporate Income Tax Bill

Checkfree Services Corp., a Fiserv Inc. subsidiary that provides electronic bill payment services for banks, was absolved from corporate income tax obligations in Florida because it didn’t produce income there, a state trial court ruled.

“The undisputed evidence makes clear that the location of Checkfree’s costs to perform the Services is almost entirely—if not entirely—incurred outside Florida,” Judge Angela C. Dempsey wrote for the Florida Circuit Court for Leon County. That means none of the company’s receipts from performing the services are sourced to Florida for the purpose of determining what share of the company’s income is taxable in the ...