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Old 02-06-2004, 10:42 AM  
ytcracker
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master p guilty of tax crime

http://news.yahoo.com/news?tmpl=stor...eople_master_p

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 (news - web sites). 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.
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