Godspell
So you too can invest in a Broadway musical. It's crowdsourced! Sign up here!
Actually, you'll note that you cannot sign up there. The minimum investment is a thousand dollars. Note that this is not a Kickstarter project -- you're actually becoming a member of an LLC when you fork over your cash. As the producer points out, he had to become a Series 63 Licensed Registered Representative (Securities Agent).
![Funny Pictures - Cat Gifs Funny Pictures - Cat Gifs](http://icanhascheezburger.files.wordpress.com/2011/06/b8f5ea59-845d-48e8-be29-5a947d343f54.gif)
see more Lolcats and funny pictures, and check out our Socially Awkward Penguin lolz!
Now the State of New York, with it's lovely regressive policies, bills an LLC $100/member per year. That means if you've put in, say, $1000 to an LLC, the value of that money to the LLC is only $700 over three years. So the State eats at multi-member LLC's which have small investors.
The only advantage to having a whole bunch of members in your LLC is that the fees are topped off at $25,000 per year. So over three years the fees paid to the State will "only" be $75,000. From New York Small Business Law:
LLCs generating income in New York must pay an annual filing fee of $100 multiplied by the total number of members in the LLC with a minimum fee of $500 and a maximum fee of $25,000 (single member LLCs have to pay $100 annually).
I figure that the costs of operating the Godspell LLC will be somewhere in the order of $300,000. That's my guess. And that's just to operate the LLC -- no actual production costs or salaries. Just lawyers, accountants, and fees. Theoretically those costs could be as low as $150,000 or as high as half a million dollars.
The State, making it as hard for small businesses as they possibly can.
No comments:
Post a Comment