UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

---

FORM 8-K

---

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): March 27, 2007

---

INTEL CORPORATION

(Exact name of registrant as specified in its charter)

---

 

 

2200 Mission College Blvd., Santa Clara, California 95054-1549

(Address of principal executive offices) (Zip Code)

(408) 765-8080

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

---

On March 27, 2007, Intel received written notification from the IRS that it has closed its examination of the company's tax returns for the years 1999 to 2002, resolving a number of issues, including the tax benefit for export sales. Additionally, resolution was reached with respect to the tax benefit for export sales for the years 2003 through 2005.

In connection with the settlement, the company expects to reverse previously accrued taxes which will reduce the current quarter's tax provision by approximately $275 million and reduce the income tax rate for 2007 below the previous forecast of approximately 30%.

See “Legal Proceedings” in Part I, Item 3 and “Note 19: Contingencies” in Part II, Item 8 of the 2006 Form 10-K for further information concerning the tax benefit for export sales.

The information in this report shall be deemed incorporated by reference into any registration statement heretofore or hereafter filed under the Securities Act of 1933, as amended, except to the extent that such information is superseded by information as of a subsequent date that is included in or incorporated by reference into such registration statement. The information in this report shall not be treated as filed for purposes of the Securities Exchange Act of 1934, as amended.

 

 

 

---

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.