Fox News settlement is tax deductable. About a third.
G-Damnit.
Rolling Stone
Quote:
Fox Corporation’s Chief Communications Officer Brian Nick, confirmed to Lever News on Wednesday that he could “confirm tax deductibility,” of the settlement, “but not the amount.”
According to a review by Lever, the company could deduct up to $213 million from their income taxes under provisions in the American tax code that allow companies to write off legal bills as “ordinary and necessary” business expenses. Since the dispute was settled between two companies, and not with the government, Fox can claim tax benefits on the payment
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