Saipan – ComputerLand founder William H. Millard, once listed as among the richest people in America, entered into a tax settlement agreement with the CNMI government.
Gov. Eloy S. Inos said there was an “impasse” in the Millard tax case, but the CNMI government took the opportunity to settle with the technology mogul.
However, the settlement amount is just a tiny dot compared to the over $118 million that the CNMI claims to be Millard’s tax debts including interests from the early ‘90s.
The undisclosed amount from the Millard settlement is now a part of the governor’s $12.386-million fiscal year 2014 supplemental budget sent to the Legislature yesterday.
The supplemental budget shows only $371,724 is from “personal income taxes” of prior years.
Millard sold his interests in ComputerLand Corp. retail chain for over $200 million while he and his family were living on Saipan decades ago.