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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] carrying back a note and CA's withholding tax Posted by zachary on August 01, 2003 at 2:46 PM Ward, If I take oall of my profit in the form of a note and trust deed what happens to the witholding tax?? I'm not INC'd yet, and the person I'm selling to has expressed an iterest in giving me a little bit more money to take my proft in the form of a note with a 1 year baloon. Its $10k more and I would rather wait and get the additional moeny. what would happen in this example situation: 1st (existing): 350k 2nd (sellers note): 50k 3rd (my note- created at time of sale): 50k total: 450k Sales price to new buyer: 450k what would happen with the 3.3% CA witholding? thanks!! Zachary Follow Ups: Re: carrying back a note and CA's withholding tax Lughead 10:52 AM, 08/02/03 (0) Post a Followup: Name : E-Mail : Subject : Comments: : Ward, : If I take oall of my profit in the form of a note and trust deed what happens to the witholding tax?? : I'm not INC'd yet, and the person I'm selling to has expressed an iterest in giving me a little bit more money to take my proft in the form of a note with a 1 year baloon. Its $10k more and I would rather wait and get the additional moeny. : what would happen in this example situation: : 1st (existing): 350k : 2nd (sellers note): 50k : 3rd (my note- created at time of sale): 50k : total: 450k : Sales price to new buyer: 450k : what would happen with the 3.3% CA witholding? : thanks!! : Zachary Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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