Re: Fwd: NAPI monthly fee from LHW
let geaorge decide
--- DKIESQ@aol.com wrote:
Please advise what you wish for me to tell Peg.
Darren
Date: Mon, 31 Oct 2005 12:47:41 -0500
To: dKIESQ@aol.com
From: Peg Ugland pegu@naproperty.com
Subject: NAPI monthly fee from LHWDarren,
Ohio has a new tax for commercial activity. It is
based on gross
receipts. The tax is minimal this year for NAPI,
but starting January 1,
2006 the rate would be 1/4 of 1%. Therefore, NAPI
would have to pay the
tax on the $100,000 monthly fee from LHW. Since LHW
owns NAPI through the
WCTRII, couldn't we make these as capital
contributions instead of a fee
which is taxed?
Also, if the $100,000 is paid by LHW for Oct. & Nov.
(paid 11/1/05 and
12/1/05), NAPI will end up with about $450,000
excess cash at 12/31/05
(rough estimate). Do we want to forgo these last
two payments in order not
to pay as much income tax?
Thanks.
Peg
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