Thursday, January 04, 2024

Kanye West's Money Problems Pile Up


For months there have been whispers that Kanye West is suffering through a cash crunch [click here if you missed that].

Now comes word Ye has fallen way behind on his property and business taxes...

From The Daily Mail
Kanye West owes over $1million in unpaid taxes as his messy finances continue to unravel.
The rapper, producer, and designer has endured a tumultuous couple of years since Adidas, Gap, Balenciaga and a host of other brands dropped him after his anti-Semitic rants - tanking his $2billion net worth down to $400million.
Now DailyMail.com can reveal that his clothing firm, Yeezy Apparel, LLC, has four active tax liens filed against it over the last three years for unpaid business taxes totaling $934,033.56.
To make matters worse, the rapper, who has shocked the world with his series of outbursts, also owes $101,093 in property taxes on two homes he owned with his ex-wife Kim Kardashian.
The most recent demand from the State of California's Franchise Tax Board was in March 2023 for $319,356.58, which includes a $97,063.78 penalty and $9,644.40 in interest.
This stems from unpaid taxes between October 2021 and March 2022.
The rapper has two more ongoing tax liens against him.
One was filed in September 2022 for the April to September 2021 period, in which the company owes $321,591.71 inclusive of penalties and interest.
Another was filed in February 2022 for $279,085.99, which includes a $92,374 penalty and interest. This was for the January 2020 to March 2021 period.
The first lien was in July 2021 for $13,999.28, inclusive of penalties and interest, for three months from April 2020.
In total, Yeezy Apparel owes $934,033.56.
Meanwhile, Kanye also owns two properties that have failed to pay property taxes.
One is a four-bedroom mansion in Calabasas, which he bought with ex Kim Kardashian in May 2018 for $2.2million.
He was then given the 300-acre property as part of their divorce deal.
Kanye hasn't paid any taxes on that pad since 2021 - meaning he now owes a total of $81,154 - that's $26,759 in 2021, $26,781 in 2022 and $27,614 in 2023.
The 46-year-old was also awarded a three-bedroom apartment in Calabasas, which he and Kim bought together for $1.6million in August 2017.
Yet he stopped paying taxes this year, which totals $19,939.
For the two properties, unpaid property taxes stand at a combined $101,093.
In total, Kanye owes $1,035,126.56 in property and business taxes.
It remains to be seen whether he'll pay the hefty sum any time soon as the penalties continue racking up.
His recent erratic behavior is mirrored by his business dealings, as it was revealed last month that the Malibu oceanfront property he bought for $57million in September 2021 was being put up for sale for $4million less.

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