And the hits just keep on coming for Kanye West as not only does he have to cough up $200,000 monthly in child support, but now his Yeezy clothing brand is going to have to give Uncle Sam his just due as well.
NBC News is reporting that the Yeezy clothing brand owes the state of California back taxes at the tune of $600,000. To make matters worse, at least three notices were sent to Yeezy apparel back in July 2021, February 2022 and September 2022 before they were ultimately hit with a tax lien as they were being ignored. As to why the debt was never paid even though Yeezy was flourishing and raking in the big time dough, well…
Four tax law experts said the amount owed by Yeezy Apparel is significant and could be a sign of deeper issues at the company.
“Multiple California tax liens, adding up to $600,000, that’s certainly a sign of either extreme incompetence or extreme cash problems,” said USC Gould School of Law Professor Edward McCaffery, who specializes in tax law. “That is kind of an Amber Alert for the financial health of the enterprise.”
This was while Kanye was enjoying billionaire status too so paying back $600,000 would’ve seemed like pocket change for him. Now that he’s back to millionaire status, it might sting his bank account a tad bit. Interestingly enough, this isn’t the first time Ye has run afoul of California’s state tax collectors as he’s been giving them the run around for about a decade.
NBC News found 17 government-imposed liens in California against three of Ye’s businesses and a charity created in his name dating back as far back as 2012. Four of the liens were labeled active with no indication of them having been terminated or paid.
“Tax lien indicates that the state maintains that a debt is owing to the state,” LoPucki said. The majority of the liens reviewed by NBC News were issued by the California Employment Development Department.
A representative for the department said it could not comment on taxpayer information.
No wonder this man admires Donald Trump so much. Not only do they share a love of white supremacy and Nazis, but they also love not paying their taxes.
How this ends up getting resolved remains to be seen but Kanye definitely has the money to pay it off. Why he hasn’t just stepped up and paid what he owes is anyone’s guess at this point.
What do y’all think of this situation? Should Ye just pay up or should he continue to act like this has nothing to do with him? Let us know in the comment section below.
The post Kanye’s Yeezy Clothing Brand Owes California $600K In Taxes appeared first on The Latest Hip-Hop News, Music and Media | Hip-Hop Wired.
Kanye’s Yeezy Clothing Brand Owes California $600K In Taxes was originally published on hiphopwired.com
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