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Re: Isn't it about time for the Supreme Court to rule that PEOPLE have the same rights as corporations... 

By: wilful in FFFT3 | Recommend this post (3)
Thu, 12 Mar 15 6:13 AM | 48 view(s)
Boardmark this board | Food For Further Thought 3
Msg. 10149 of 65535
(This msg. is a reply to 10131 by oldCADuser)

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OCU - "Were you aware that if an American corporation breaks the law and is forced by the courts to pay a fine, that they can deduct the cost of that fine from their corporate taxes?"

This is incorrect. The deductibility applies only to settlement payments that are construed as compensation or restitution. Fines and penalties are levied under criminal law - and are not deductible.


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The above is a reply to the following message:
Isn't it about time for the Supreme Court to rule that PEOPLE have the same rights as corporations...
By: oldCADuser
in FFFT3
Thu, 12 Mar 15 12:51 AM
Msg. 10131 of 65535

Were you aware that if an American corporation breaks the law and is forced by the courts to pay a fine, that they can deduct the cost of that fine from their corporate taxes?

Next time you get a traffic ticket, see what happens when you try to deduct the fine you paid from YOUR income taxes.


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