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To: eyeamok

I believe that only counts with prepared food. Last week I walked into my local Kroger’s and there was a huge display of single serving bags of Doritos in their atrium, free to anyone with no limit apparently.

I saw kids running out with armfuls and they just kept stocking the shelves.


7 posted on 03/27/2013 9:50:09 AM PDT by Abathar (Proudly posting without reading the article carefully since 2004)
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To: Abathar

You maybe correct, but If I owned this business I would NOT take the Chance under ANY CIRCUMSTANCES.


8 posted on 03/27/2013 9:55:52 AM PDT by eyeamok
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To: Abathar

Oddly enough, I don’t think the taxman would permit them to give away more than a small part of their inventory. This is because they see it as potentially taxable, unless it is destroyed and written off as a loss.

Probably the baseline legal case for this was of the owner of an apartment block, who wanted to retire and give the apartment block to his tenants. The IRS intervened and told him that if he did that, they would still tax him on the money he might have made had he sold the block on the open market.

The most egregious example of this is for successful artists. The famous artist Ted DeGrazia discovered that the IRS intended to list every bit of art he had created or anything he had signed, including drafts, sketches, his signature on bank checks, contracts, whatever, as highly valued art worth a million or more dollars, then slap his children with a huge inheritance tax bill when he died.

Using a backhoe, he dug a hole in his yard, put hundreds of artworks and sketches in it, and set it on fire as IRS agents watched. Then they advised him that it didn’t matter if those things had been destroyed, he still owed the tax on them.

In frustration, he set up a non-profit foundation, gave everything to it, then died to spite the IRS.


15 posted on 03/27/2013 11:21:45 AM PDT by yefragetuwrabrumuy (Best WoT news at rantburg.com)
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