Rob Wood ...BP Oil, and Deducting Punitive Damages

In this article,Wood asserts that deducting compensatory and punitive damages is business as usual (even for BP), but says there’s long been tension between the rules governing fines and penalties and their bearing on civil punitive damages. In the context of proposed legislation to make punitive damages nondeductible, he examines the debate and the authorities, concluding that those damages should remain deductible.

Read the article at Wood and Porter