I thought California had to be the worst state to LLC in ($800 annual Fee and a small amount of tax), but Tennessee seems to be even worse ($300-3,000 annual Fee, a small franchise tax, and a big 6.5% excise tax).

As soon as a special is levied against the owner it has to be disclosed

Mary, Terrebonne, VermillionMississippi: JacksonNorth Carolina: Brunswick, CarteretTexas: CameronZone 3 (130 mph)Alabama: Baldwin, MobileAlaska: The coastal regions seaward of the 110-mph isotach on the ASCE 7 mapConnecticut: Middlesex, New LondonFlorida: Bay, Brevard, Calhoun, Charlotte, Citrus, Collier, DeSoto, Dixie, Duval, Escambia, Flagler, Gulf, Hendry, Hernando, Hillsborough, Holmes, Indian River, Jackson, Lee, Levy, Liberty, Manatee, Nassau, Okaloosa, Okeechobee, Pasco, Pinellas, Santa Rosa, Sarasota, St.

As it points out in the discussion this means there will be an excise tax charged on both transactions.I am going to bring this up at the May 26th meeting to see what the group has to say about this subject and how they are handling their closings. 

Your failure-to-pay penalty would be $100, calculated as $10,000 x 0.5%/month x 2 months.Note that the failure-to-pay penalty increases to 1% (rather than 0.5%) if the tax remains unpaid 10 days after the IRS issues a notice of intent to levy property.Failure-to-file penalty.  

Also, if you are renting out, add to your expenses the General Excise Tax (GET), something many people might forget.

They'll be able to move forward with additional collection attempts and, with that judgment, do things like levy bank accounts and garnish wages to get you your money back.Collection agencies make money by taking a cut from whatever they collect.

Unless you gave each one a receipt for the partial security deposit, you then levy the damages against the total.

Check out someone like Altro Levy or Keats Connelly.  

Originally posted by Levi T.