Legal precedent suggests that 'ordinary and necessary' expenses include punitive damages in lawsuits.
We are pleased to have reached a settlement of our dispute with Dominion Voting Systems. We acknowledge the Court's rulings finding certain claims about Dominion to be false.
Another thing the company may be hopeful about: the tax implications of a $787 million dollar settlement in a civil case in which the government was not a participant. As the media outlet The Leverthe following day, the settlement could"mean a tax break as large as $213 million" for Fox News Corporation:
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