Tax Scam Funk & Boogie
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Description
In the mid 1970’s some record label executives discovered it was entirely possible, due to a loophole in the law, to create a new label as a subsidiary to the major label, and to write this new label off as a large tax loss in order to help the major label remain profitable. These companies would release as many as 100 albums over the course of a few years, and the entire batch would be listed as unsold. Actually the ones they pressed (they’d claim to press something like 10,000, when in actuali
