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.
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