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Note, that corps. can claim a tax break for fines, as being a 'business expense'. Much more depth on all of this in the documentary 'The Corporation'.
by queensnake 16y ago
Note, that corps. can claim a tax break for fines, as being a 'business expense'. Much more depth on all of this in the documentary 'The Corporation'.
- mordero 16y agoFines or penalties paid by a company for violation of a law are not deductible for federal taxes. Section 162(f) -> http://www.law.cornell.edu/uscode/26/usc_sec_26_00000162----000-.html http://www.law.cornell.edu/uscode/26/usc_sec_26_00000162----... IRS Publication 535 (2009) (Although not authoritative, it provides examples) -> http://www.irs.gov/publications/p535/ch11.html http://www.irs.gov/publications/p535/ch11.html