Master P In Court Over Tax Violation
Percy "Master P" Miller will appear in a Baton Rogue, Louisiana court today (February 5), admitting he failed to file a corporate tax return seven years ago.
Miller will appear before Judge James Brady this afternoon at the request of federal prosecutors, who accuse Miller of neglecting to report first -year earnings for Bout It Incorporated.
Miller founded the company in 1996. He is also founder of No Limit Records, a film company, a clothing line and more recently, a jewelry company that will produce luxury watches.
The tax charges carry a maximum of five years in probation, a fine of $200,000 or double the financial gain or loss, which ever is greater.
On December 17, 2003, Miller's company filed for bankruptcy protection and switched distributors, leaving Universal for Koch.
Source: allhiphop.com
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