31.   When a holder exercises his options, the company claims a deduction on its tax return, sometimes producing huge tax savings.

32.   Applicants may claim the deduction in any five tax years.

33.   For instance, unlike most churches, the Baptist Temple pays sales taxes on all purchases and its members cannot claim income tax deductions for their donations.

34.   That would let shareholders avoid paying taxes on the forgiven debt, and also allow them to increase their stock basis and thereby claim deductions for prior losses.

35.   The deductions can be claimed for up to five years.

36.   This would allow restaurant franchises, for example, to claim a deduction for donations.

37.   This would allow restaurant franchises, for example, to claim a deduction for food donations.

38.   U.S. Treasury Secretary Robert Rubin urged the industrialized countries Tuesday to make it a crime for businessmen to claim tax deductions for bribes.