Puerto Rico's "Wal Mart Tax" Declared Invalid

Federal Judge Jose Antonio Fuste agreed in his 109-page ruling and said the island's treasury secretary must immediately stop levying, collecting and enforcing the tax. He noted Puerto Rico legislators had increased the tax by 325 percent in May 2015 during what he called a brisk approval process so they could capture revenues from Walmart.

The 6.5 percent tax would have applied to every piece of inventory Walmart received for its stores even if it wasn't able to sell it, Fuste said.