So last Wednesday I stood up at the end of our Showcase program and announced that the LLC Tax was off the table in regards to the most recent budget agreement as per Rick Zechini at NCAR.
Well, things are always changing and especially on the budget front, that's for sure. On Monday I received an email from Rick stating that things are ever changing with the General Assembly. God bless Rick Zechini because his head must constantly be swimming with all the things that NCAR is trying to get done from a legislative standpoint. Seriously, it makes me tired just thinking about it.
Well here is the latest issue. When Governor Perdue took a gander at the the budget proposal she was less than excited. She's not crazy about the income tax surcharge and she wants an additional $200 million dollars. Hence basically the budget deal fell apart. I'm thinking someone figures that LLC franchise tax must be looking like it has some sort of potential in finding some of that $200 million.
So after reaching the bottom of our roller coaster ride we're climbing that hill again and NCAR is now back to fighting this franchise LLC Tax. I'l keep you posted as we continue the ride. Stay tuned.
Wednesday, July 29, 2009
Friday, July 17, 2009
Why Are You a Member of TCAR?
You know every once in a while I get these comments that commercial brokers don't get the value of their membership and what does NAR,RCA, NCRCA, NCAR and TCAR do for me. So I am, on this occasion, going to write what you get for your money.
Well, first off for less than $36 a month, you're a member of five associations, 2 of them national, two of them state and one that is local. Now you get a lot of things from each part BUT you have to use them and in some ways participate. I have always told folks you only get out of a membership what you put into it. But there are a lot of things your state and national associations do that you simply can not put your hands on that effects how you do business every day and that is in the way those associations are constantly involved in legislative issues.
NCAR is currently trying to fight this LLC tax, they have been successful in fighting the transfer tax,they have done work on slope issues in the mountains and issues out at the coast. All of this effects and protects your client, your hard work and the money that comes out of your commission checks.
And then there is what's happening on a national level. Did you know that if it were not for NAR, banks would be in the real estate business? Can you imagine what kind of mess that would be given our current situation. I mean NAR has a great big LEEDS certified building in Washington DC. If you don't think NAR is out their fighting for the commercial consumer and REALTOR, you would be very much mistaken. The truth is NAR is one of the largest lobbying groups with the goal of protecting the consumer and helping you guys help your clients. That includes commercial issues. Think about it, if your company had to invest in lobbyists and lawyers you would never be able to afford what your state and national associations have sunk into the many issues that they have assisted in getting changed or passed by them.
Then there are all the other things your dues pay for like commercial contract forms through NCAR and Fast Forms. Lastly, is the tons of information, online classes and certifications available at realtor.org through NAR. I won't go into the almost monthly networking and educational opportunities your local TCAR board does.
So in the end you have membership into five different associations, a wealth of industry knowledge at the click of a mouse and someone fighting for your business at all levels of government. Quite honestly, if you ask me, that's a lot of bang for your buck.
Well, first off for less than $36 a month, you're a member of five associations, 2 of them national, two of them state and one that is local. Now you get a lot of things from each part BUT you have to use them and in some ways participate. I have always told folks you only get out of a membership what you put into it. But there are a lot of things your state and national associations do that you simply can not put your hands on that effects how you do business every day and that is in the way those associations are constantly involved in legislative issues.
NCAR is currently trying to fight this LLC tax, they have been successful in fighting the transfer tax,they have done work on slope issues in the mountains and issues out at the coast. All of this effects and protects your client, your hard work and the money that comes out of your commission checks.
And then there is what's happening on a national level. Did you know that if it were not for NAR, banks would be in the real estate business? Can you imagine what kind of mess that would be given our current situation. I mean NAR has a great big LEEDS certified building in Washington DC. If you don't think NAR is out their fighting for the commercial consumer and REALTOR, you would be very much mistaken. The truth is NAR is one of the largest lobbying groups with the goal of protecting the consumer and helping you guys help your clients. That includes commercial issues. Think about it, if your company had to invest in lobbyists and lawyers you would never be able to afford what your state and national associations have sunk into the many issues that they have assisted in getting changed or passed by them.
Then there are all the other things your dues pay for like commercial contract forms through NCAR and Fast Forms. Lastly, is the tons of information, online classes and certifications available at realtor.org through NAR. I won't go into the almost monthly networking and educational opportunities your local TCAR board does.
So in the end you have membership into five different associations, a wealth of industry knowledge at the click of a mouse and someone fighting for your business at all levels of government. Quite honestly, if you ask me, that's a lot of bang for your buck.
Wednesday, July 15, 2009
Town of Cary's Site Design Standards Project
Every so often I get notification from Meredith Chandler, Urban Designer and Senior Planner from the Town of Cary Planning Department, regarding different things that are going on down there. They have been working on a Site Design Standards Project for Cary and have asked that folks from the commercial community that have an interest in Cary get involved.
The Town of Cary has apparently come up with thte first draft of the Site Design Stanadards document and would like to get some input on what they have thus far. There will be a community workshop on Tuesday, July 28th from 6 to 8 pm at the Page Walker Arts and History Center.
This will be what they call an "open house" style meeting with the purpose of allowing those interested to review and comment on the first draft of the Site Design Project. If you're interested and would like to be a part of this meeting, basically all you do is show up and participate.
I think that it is an oppportunity for commercial people to get a feel for what they have in mind for Cary and possibly have an influence on the change that occurs.
So attend if you're interested and maybe I'll see you there.
The Town of Cary has apparently come up with thte first draft of the Site Design Stanadards document and would like to get some input on what they have thus far. There will be a community workshop on Tuesday, July 28th from 6 to 8 pm at the Page Walker Arts and History Center.
This will be what they call an "open house" style meeting with the purpose of allowing those interested to review and comment on the first draft of the Site Design Project. If you're interested and would like to be a part of this meeting, basically all you do is show up and participate.
I think that it is an oppportunity for commercial people to get a feel for what they have in mind for Cary and possibly have an influence on the change that occurs.
So attend if you're interested and maybe I'll see you there.
Monday, July 13, 2009
Calling All Sponsors
We're still looking for Sponsors for this year's Annual Joint Networking Event. This is a great opportunity to get exposure for your company over the remaining weeks prior to and the day of the event. Last year we had over 400 people attend the beach party themed event and were able to donate $10,000 to Hilltop Home.
This year we want to know who your favorite team is and all for a worthy cause, The Inter-Faith Food Shuttle. But we need $500 sponsors. With the sponsorship you will have your name publicized in multiple email blasts to all of the commercial real estate groups (BOMA, CCIM-NC, IREM, NAIOP, TCAR, TCREW and TRAOBA); have a table at the event for display; two free tickets to the event and in the end, contributed to a worthy cause.
So contact the TCAR office at 919-228-2588 or email Kim Brennan at kimb@tcar.com if you are interested. The earlier you sign up, the more exposure you will receive to over 900 industry professionals.
Special thanks to Highwoods Properties, Hagersmith Design and Shelco for being our Gold Sponsors this year.
This year we want to know who your favorite team is and all for a worthy cause, The Inter-Faith Food Shuttle. But we need $500 sponsors. With the sponsorship you will have your name publicized in multiple email blasts to all of the commercial real estate groups (BOMA, CCIM-NC, IREM, NAIOP, TCAR, TCREW and TRAOBA); have a table at the event for display; two free tickets to the event and in the end, contributed to a worthy cause.
So contact the TCAR office at 919-228-2588 or email Kim Brennan at kimb@tcar.com if you are interested. The earlier you sign up, the more exposure you will receive to over 900 industry professionals.
Special thanks to Highwoods Properties, Hagersmith Design and Shelco for being our Gold Sponsors this year.
Wednesday, July 8, 2009
LLC Update
If you have not read about the LLC tax proposal you might want to scroll down to the blog on June 26th. If, however, you have read the LLC installation, I received an update from Rick Zechini, Director of Government Affairs for NCAR, yesterday.
There's good news and bad news in regards to the LLC tax. We'll take care of the bad news first. Governor Bev Perdue recently released her ideas on a tax package. It seems the tax on LLCs is included and appears to be the same version of what appeared in the House's version. The Governors proposal is in an N&O story that also has the link to her actual proposal. Check out http://projects.newsobserver.com/under_the_dome/perdue_wants_1_cent_sales_tax_hike. So I guess the bad news is this LLC thing is in the House budget, the Senate finance package and now the Governor's tax package.
There's good news and bad news in regards to the LLC tax. We'll take care of the bad news first. Governor Bev Perdue recently released her ideas on a tax package. It seems the tax on LLCs is included and appears to be the same version of what appeared in the House's version. The Governors proposal is in an N&O story that also has the link to her actual proposal. Check out http://projects.newsobserver.com/under_the_dome/perdue_wants_1_cent_sales_tax_hike. So I guess the bad news is this LLC thing is in the House budget, the Senate finance package and now the Governor's tax package.
Okay here is the "good" news. Senator Clodfelter wants to elimanate the 55% of the appraised value part of a three part franchise tax evaluation. If you will recall the original LLC tax provision would require the payment of taxes at a rate of $1.50 for every $1000 of value of the greatest of the following: 1.) the apportioned capital base of the business entity; 2.) 55% of the appraised value of tangible real and personal property in North Carolina or 3.) the total actual investment in tangible property in the state. (phew!) Apparently, by eliminating that 55% appraised value piece it would "dramatically reduce" the impact of this new tax. Rick Zechini (rzechini@ncrealtors.org) would love your opinion on that one, so feel free to shoot an email in his direction.
Again, NCAR is working with a wide group of people and NAIOP has recently acquired a lobbyist that Rick has touched base with on this issue. If you feel strongly enough about this issue, I would suggest you contact Rick and see what you can do to influence how this will turn out.
Tuesday, July 7, 2009
July Showcase: NAR Speaker
Before I begin, yes we know that TBJ has a space update thing going on at the same time as TCAR's July 23rd Showcase. But in an effort to bring our members better speakers we're sometimes restricted by availability. On that note, I am writing to let everyone know that on Thursday July 23rd TCAR and the Dilweg Companies have NAR/RCA Economist George Ratiu coming to give us a mid year update on the economic outlook for commercial real estate. This is our first breakfast event and things get started at 8:30am.
Now, I'm thinking that given the current state of the economy, we might be a little interested in this particular topic. And let's face it, we probably would have a hard time finding any one group more interested in the well being of real estate than NAR and RCA. It would therefore make sense that they would have some pretty informed economists roaming the hallways of that big LEEDS certified building in Washington, DC.
Mr. Ratui is based out of Washington, DC and writes regular columns, as well as does research in the areas of commercial real estate and mortgage forclosures. He writes the Commercial Real Estate Outlook for NAR which quarterly forcasts office, industrial, retail and multi-family sectors. Before NAR, he worked as an international development consultant and conducted economic research in Eastern Europe. He also managed qualitative research projects and taught Economics courses at Western Kentucky and Eastern Kentucky universities.
This time we're doing things a little different and I could go into the big, long explaination as to why but I know no one is really interested. We're having a breakfast! As always it's free to members but this time it's going to be $35 to non members and I will be checking. That's the wonders of those internet cards, you're connected just about anywhere. So we'll start at 8:30 am with the food and registration. The speaking will start around 9:00 ish and then we should be finished at 10:00 to 10:30 depending on how long you folks want to visit.
The location is 202 Davis Grove Circle in Cary. Now if you map quest or put this into your GPS you might find that it will not come up. If that is the case put in the address for Davis Drive Elementary (2151 Davis Drive, Cary) because Davis Grove is directly across the street. If you want to attend, either call the office at 228-2588, tweet me at tcarkim or register online at http://www.tcar.com/. I hope to see you there.
Now, I'm thinking that given the current state of the economy, we might be a little interested in this particular topic. And let's face it, we probably would have a hard time finding any one group more interested in the well being of real estate than NAR and RCA. It would therefore make sense that they would have some pretty informed economists roaming the hallways of that big LEEDS certified building in Washington, DC.
Mr. Ratui is based out of Washington, DC and writes regular columns, as well as does research in the areas of commercial real estate and mortgage forclosures. He writes the Commercial Real Estate Outlook for NAR which quarterly forcasts office, industrial, retail and multi-family sectors. Before NAR, he worked as an international development consultant and conducted economic research in Eastern Europe. He also managed qualitative research projects and taught Economics courses at Western Kentucky and Eastern Kentucky universities.
This time we're doing things a little different and I could go into the big, long explaination as to why but I know no one is really interested. We're having a breakfast! As always it's free to members but this time it's going to be $35 to non members and I will be checking. That's the wonders of those internet cards, you're connected just about anywhere. So we'll start at 8:30 am with the food and registration. The speaking will start around 9:00 ish and then we should be finished at 10:00 to 10:30 depending on how long you folks want to visit.
The location is 202 Davis Grove Circle in Cary. Now if you map quest or put this into your GPS you might find that it will not come up. If that is the case put in the address for Davis Drive Elementary (2151 Davis Drive, Cary) because Davis Grove is directly across the street. If you want to attend, either call the office at 228-2588, tweet me at tcarkim or register online at http://www.tcar.com/. I hope to see you there.
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