Master p Bankruptcy News
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Master P Pleads Guilty to Tax Crime
BATON ROUGE - Rapper Master P pleaded guilty in federal court to failing to file a corporate income tax return seven years ago.
Federal prosecutors accused Bout It Incorporated, the company the rapper founded in 1996, of neglecting to report its first-year earnings to the Internal Revenue Service. Master P, whose real name is Percy Miller, also founded the hip-hop label, No Limit Records.
Miller entered his plea Thursday, and no sentencing date was set.
The crime carries a maximum sentence of five years probation, a $200,000 fine or twice the financial gain or loss, and the cost of prosecution.
-Associated Press
BATON ROUGE - Rapper Master P pleaded guilty in federal court to failing to file a corporate income tax return seven years ago.
Federal prosecutors accused Bout It Incorporated, the company the rapper founded in 1996, of neglecting to report its first-year earnings to the Internal Revenue Service. Master P, whose real name is Percy Miller, also founded the hip-hop label, No Limit Records.
Miller entered his plea Thursday, and no sentencing date was set.
The crime carries a maximum sentence of five years probation, a $200,000 fine or twice the financial gain or loss, and the cost of prosecution.
-Associated Press
