According to a statement uncovered by Fortune’s senior writer, Devin Leonard, Apple threatened The Copyright Royalty Board in Washington, D.C. last year to shut down its iTunes store in case the committee will decide to increase the royalty rates paid to the National Music Publishers' Association.

In a statement submitted to the board last year and signed by iTunes vice president Eddy Cue, Apple said that iTunes is incapable to absorb any increase in the royalty rate.

"Apple has repeatedly made it clear that it is in this business to make money, and most likely would not continue to operate [the iTunes music store] if it were no longer possible to do so profitably”, it was written in the statement.

On Thursday, the Copyright Royalty Board should rule on a price dispute between the National Music Publishers Association and the Digital Media Association, which is representing Apple and other music retailers.

Currently the royalty rates are 9 cents per track, but the National Music Publishers Association requested an increase to 15 cents per track. On the other side of the barricade, the Digital Media Association thinks that a lower rate of 4.8 cents per track should be enough.

Apple’s iTunes, which was opened in 2003 as a digital music store for the iPod owners, is now the biggest online music retailer.

Apple is selling a song for 99 cents, an amount from which it is believed that it pays 70 cents to the record companies.

In July, Apple announced that the sales of its iTunes online music store have gone past the five billion songs milestone.

However, the analysts consider that despite the decision of The Copyright Royalty Board it is very unlikely that Apple will indeed pursue its threat and close its music store.