The deferred status only postpones the liability and therefore does not cancel the tax obligation.
Interest accrues at the rate of five percent per year.
Gutierrez, PCC Director, Property Tax Department Pat Hatzel, PCC Director, Financial Reporting Department Richard Salas, Esq.Manager, Customer and Public Information TAX OFFICE HOURS & LOCATIONS MAIN OFFICE - DOWNTOWN Vista Verde Plaza Building 233 N.Albert Uresti, MPA, PCC Bexar County Tax Assessor-Collector Lisa Anderson, PCC Chief Deputy of Administration Stephen W.Palacios, CPA, PCC Chief Deputy of Operations David De Leon Director, Motor Vehicle Registration Department Carlos J.In the companys proxy statements and other public filings, the defendants represented that the options would be priced at fair market value on the date the options were granted.
According to the public filings, the pricing of the stock options under the plans would serve shareholder interests because executives and employees who received the options would continue to work diligently to promote the success of the company and thereby contribute to a rise in the stock price.
These limitations currently exist for all school districts.
The limitation is also effective for the Flood Control Fund, Alamo Community College, Bexar County, City of San Antonio, Shavano Park, Leon Valley, and Live Oak.
Their alleged fraud affected the companys bottom line by deliberately misstating earnings, a material misrepresentation to shareholders.
As alleged in the complaint, from 1998 through 2001, Comverse adopted stock option plans designed to provide additional compensation for executives, including the defendants, and other employees.
When the alleged backdating scheme and slush fund came to light, the affidavit says, the men hurried to disavow and cover up their activities.