Monday, August 17th, 2009
Update below (Aug. 20, 2009)
Is the value of a gift given to a government official its fair market
value or what the official gets out of it? For example, if you give an
official a sportscar worth $40,000 and he only drives it ten times a
year, is its value $40,000 or the cost of renting a car ten times a
year? If you give an official a ticket to a football game and she leaves
after the first half, is the value half the ticket or its full price?