Friday, April 17, 2009
Gotta Love the State
So, the brilliant minds at the State of New Jersey have for us a $900 bill. Oh, it's not a "tax" (because all taxes "flow through" to the partners in an LLC) no -- they call it a "filing fee".
The stupid filing fee for an LLC in the State of New Jersey is $150 per partner. So for the 4 partners we have in Bloodmask LLC that's $600. Thank you State of New Jersey!
Now what could be more awesome? Oh wait, I know! How about the State insists that we pay half of next year's fee in ADVANCE? Now that would be freakin' awesome.
Yay! $900. Just to file our taxes. Because, of course, we don't actually owe any taxes -- the taxes flow through to the members. Who pay taxes.
Oh -- you know there has to be some bitter irony right? I mean let's just think about this. What could make all of this even more awesome? Oh wait, I know! How about the fact that if we were a freakin hedge fund or an "investment club" we wouldn't have to pay the fee at all! Wouldn't that be awesome?
So to recap: we grossed (GROSSED mind you) $19,300.00 last year. And we have to pay $900 of it in "fees" to the state. So the State gets to just lop off the same amount for us they'd take for some multi-million dollar operation. Thanks for the regressive tax structure you guys!
Remind me, how do small businesses actually operate legally? I see how the big boys do it -- it's actually easier for them -- but how do you stay solvent with a small business and not break any laws? I better get right on with breakin' some laws because at this rate I'm gonna be non-existent. I hear you can do well in prostitution...
Right now the Republicans ain't doin' crap for the actual small-business owner. The Democrats might do something but the reality is that the lawyers who write these laws have never had a sub-$100,000 business so they have no idea what it's like. When you and your partners are raking in millions of dollars a year and you have to pay this $150/partner fee you all have another toast of champagne while you do it.
And don't get me started on Joe the freakin' Plumber. He knows nothing about actually running a business. Aargh. I need another drink. Let these rabbits run the company.
Tomorrow morning I'm throwing all my partners out of the company. Including my dad. If the State is going to eat our trickle of money which is coming in then it's just not worth it to have the LLC exist for more than two years. PTHHTHHth and poo.