Posted by Robert
Rap News Network
2/5/2004 5:29:51 PM
Tags and topics realted to this article include Master P.
Master P, otherwise known as Percy Miller, appeared in federal court Thursday and pleaded guilty to failing to file a corporate income tax return seven years ago.
Federal prosecutors accused Bout It Incorporated, the company Miller founded in 1996, of neglecting to report its first-year earnings to the Internal Revenue Service. Miller is also the founder of hip-hop label No Limit Records.
The alleged tax crime carries a maximum sentence of five years probation, a fine of $200,000 or twice the financial gain or loss — whichever is greater — and the cost of prosecution.
A sentencing date will be set later by U.S. District Judge James Brady.
Before entering the courthouse Thursday afternoon, Master P was approached by man attempting to serve papers relating to another matter.
At one point the man even tried to block the building's metal detector before finally throwing the papers at the rapper.
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