[off topic snip - luv4u]

[off topic snip - luv4u]

FrankieCoco1 said:

[off topic snip - luv4u]

... and that after four days ...

nelcp777 said:

udo said:

They sttled at $82M value for the Estae.

Dunno how much tax that means.

.

So what is next?

Can they pay the heirs now?

Or are they bankrupt and need to sell some music first?

If the settlement amount is $82 million, the estate has an exemption of $11.7 million, meaning anything over that amount is taxable at the 40% enacted tax rate. So, $70.3 million is subject to the tax rate, leaving a tax liability of $28.12 million, not including any penalties or fees.

For the state of Minnessota, the exemption is $3 million, so anything over that is taxable. The Estate has to pay 16% (the enacted tax rate). So, that means that if the valuation applies to the state level, $79 million is taxable at 16%. The Estate has a tax liability of about $12.64 million to the state. Again, an estimate and does not include any penalties or fees.

xmas:

Thanks!

The distribution hearing looks scheduled for February 4th, 2022.

ISaidLifeIsJustAGame said:

nelcp777 said:

If the settlement amount is $82 million, the estate has an exemption of $11.7 million, meaning anything over that amount is taxable at the 40% enacted tax rate. So, $70.3 million is subject to the tax rate, leaving a tax liability of $28.12 million, not including any penalties or fees.

For the state of Minnessota, the exemption is $3 million, so anything over that is taxable. The Estate has to pay 16% (the enacted tax rate). So, that means that if the valuation applies to the state level, $79 million is taxable at 16%. The Estate has a tax liability of about $12.64 million to the state. Again, an estimate and does not include any penalties or fees.

xmas:

Thanks!

My pleasure! Happy holidays!!!!!!!!!!!!!!!!!!!

https://www.startribune.c...600129536/ notes that a) not all disputes have been settled and b) it still could take months even for the settled case to be finally resolved.

BartVanHemelen said:

https://www.startribune.c...600129536/ notes that a) not all disputes have been settled and b) it still could take months even for the settled case to be finally resolved.

As is typical, lots of false information in previous posts.

The IRS settlement is not known but likely much more than the estate's evaluation (which is why they were fined so much). Look for $150 MILLION or more evaluation as of date of his death.

The thing that's been of interest to me is that the older heirs did not sell out; the three younger ones did (with Tyka retaining 10% of expectancy). That seemed so backwards.
We do not know if Sharon and Norrine have been married or have children. In some wild verson of the universe, it could turn out that Tyka and Omarr end up as their heirs.

Note: Tyka's son President Nelson has been active in Paisley Park oversight. Could that be where Tyka's 10% is to be spent, on Paisley?

laytonian said:

BartVanHemelen said:

https://www.startribune.c...600129536/ notes that a) not all disputes have been settled and b) it still could take months even for the settled case to be finally resolved.

As is typical, lots of false information in previous posts.

The IRS settlement is not known but likely much more than the estate's evaluation (which is why they were fined so much). Look for $150 MILLION or more evaluation as of date of his death.

The thing that's been of interest to me is that the older heirs did not sell out; the three younger ones did (with Tyka retaining 10% of expectancy). That seemed so backwards.
We do not know if Sharon and Norrine have been married or have children. In some wild verson of the universe, it could turn out that Tyka and Omarr end up as their heirs.

Note: Tyka's son President Nelson has been active in Paisley Park oversight. Could that be where Tyka's 10% is to be spent, on Paisley?

Sources say, the younger ones were forced to give up their interest because they were hoodwinked into taking high interest loans they couldn't payback in time. Primary wave steps in and pulls a Don Corleone and it cost them their interest. With age comes wisdom, with greed comes fools!

TheEquilizer said:

laytonian said:

As is typical, lots of false information in previous posts.

The IRS settlement is not known but likely much more than the estate's evaluation (which is why they were fined so much). Look for $150 MILLION or more evaluation as of date of his death.

The thing that's been of interest to me is that the older heirs did not sell out; the three younger ones did (with Tyka retaining 10% of expectancy). That seemed so backwards.
We do not know if Sharon and Norrine have been married or have children. In some wild verson of the universe, it could turn out that Tyka and Omarr end up as their heirs.

Note: Tyka's son President Nelson has been active in Paisley Park oversight. Could that be where Tyka's 10% is to be spent, on Paisley?

Sources say, the younger ones were forced to give up their interest because they were hoodwinked into taking high interest loans they couldn't payback in time. Primary wave steps in and pulls a Don Corleone and it cost them their interest. With age comes wisdom, with greed comes fools!

Hi Sharon!

TheEquilizer said:

laytonian said:

As is typical, lots of false information in previous posts.

The IRS settlement is not known but likely much more than the estate's evaluation (which is why they were fined so much). Look for $150 MILLION or more evaluation as of date of his death.

The thing that's been of interest to me is that the older heirs did not sell out; the three younger ones did (with Tyka retaining 10% of expectancy). That seemed so backwards.
We do not know if Sharon and Norrine have been married or have children. In some wild verson of the universe, it could turn out that Tyka and Omarr end up as their heirs.

Note: Tyka's son President Nelson has been active in Paisley Park oversight. Could that be where Tyka's 10% is to be spent, on Paisley?

Sources say, the younger ones were forced to give up their interest because they were hoodwinked into taking high interest loans they couldn't payback in time. Primary wave steps in and pulls a Don Corleone and it cost them their interest. With age comes wisdom, with greed comes fools!

Wouldn't you know,,,,Sharks out there to make a fool of those that don't know how avoid from being used, tricked, abused....!!!

TheEquilizer said:

Sources say, the younger ones were forced to give up their interest because they were hoodwinked into taking high interest loans they couldn't payback in time. Primary wave steps in and pulls a Don Corleone and it cost them their interest. With age comes wisdom, with greed comes fools!

What sources? Because this commentary is just guesswork with no names attached to it. And if you mean with OLD age comes wisdom.......think again because the elders have been screwing up since the get-go, as noted in court documents.

[Edited 1/5/22 15:06pm]

Astasheiks said:

Wouldn't you know,,,,Sharks out there to make a fool of those that don't know how avoid from being used, tricked, abused....!!!

Don't allow yourself to be used, tricked or abused either. Without sources, Equilizer's commentary is guesswork or shit-talking, nothing more.

Mumio said:

Astasheiks said:

Wouldn't you know,,,,Sharks out there to make a fool of those that don't know how avoid from being used, tricked, abused....!!!

Don't allow yourself to be used, tricked or abused either. Without sources, Equilizer's commentary is guesswork or shit-talking, nothing more.

Mumzio, "ask the man who wrote it there in the Morning Papers." (Star Tribune) If you look at the facts as it relates to court documents, the elders will have their interest when the estate is settled in March and a corporation will own the interest of the younger ones before they even had a chance to acquire it. Not much guesswork & shit-talk as you say mate, it's quite explicit.

TheEquilizer said:

onlyforaminute said:

Given what you've seen so far, are you truly rooting for the elder half to have control?

Right? This is why I said what I said. I'm not so sure that "a corporation" who owns some of the estate is a bad thing, at least someone will know what they are doing. The elders let a man that Prince fired get hold of a piece of their inheritance, not to mention the crap that also went on with the tribute concert. Doesn't say a heck of a lot for them and their ability to make good choices. If you read the court documents you'll get the lowdown on all that.

[Edited 1/6/22 21:06pm]

Mumio said:

onlyforaminute said:

Given what you've seen so far, are you truly rooting for the elder half to have control?

Right? This is why I said what I said. I'm not so sure that "a corporation" who owns some of the estate is a bad thing, at least someone will know what they are doing. The elders let a man that Prince fired get hold of a piece of their inheritance, not to mention the crap that also went on with the tribute concert. Doesn't say a heck of a lot for them and their ability to make good choices. If you read the court documents you'll get the lowdown on all that.

[Edited 1/6/22 21:06pm]

Looking back at the early court filings regarding the corporations involvement and the way they went about taking control of the heirs interest is a prime example of industry rule 4080. i.e. Alfred Jackson.

Fill me in, who confirmed that the man you are refering to who got a hold of a piece of the elders inheritance was fired by Prince? Wasn't he employed with Prince the longest, 13 years if I'm not mistaken? I think he also helped Prince get slave off his face, generated business opportunities where Prince made the most money during those years and also became a new father during that time. I can only imagine being a new father and working for Prince would have been tough to do with the demands required with Prince. Please share what you know about the firing if your facts state otherwise. I think the elders are aware of the truth which helps guide their decisions on what and who is best for their and Princes business. I'm rooting for the elders because it's their inheritance to do as they wish and they know how hard their brother worked and fought to become such an Icon and did not sell him out. "What if half the things ever said Turned out 2 be a lie How will U know the Truth?"

TheEquilizer said:

Sources say, the younger ones were forced to give up their interest because they were hoodwinked into taking high interest loans they couldn't payback in time. Primary wave steps in and pulls a Don Corleone and it cost them their interest. With age comes wisdom, with greed comes fools!

.

Sounds like financially illiterate folks trying to pull the future into the new.

But stuff doesn't work like that so easily...

TheEquilizer said:

Mumio said:

Right? This is why I said what I said. I'm not so sure that "a corporation" who owns some of the estate is a bad thing, at least someone will know what they are doing. The elders let a man that Prince fired get hold of a piece of their inheritance, not to mention the crap that also went on with the tribute concert. Doesn't say a heck of a lot for them and their ability to make good choices. If you read the court documents you'll get the lowdown on all that.

[Edited 1/6/22 21:06pm]

Looking back at the early court filings regarding the corporations involvement and the way they went about taking control of the heirs interest is a prime example of industry rule 4080. i.e. Alfred Jackson.

Fill me in, who confirmed that the man you are refering to who got a hold of a piece of the elders inheritance was fired by Prince? Wasn't he employed with Prince the longest, 13 years if I'm not mistaken? I think he also helped Prince get slave off his face, generated business opportunities where Prince made the most money during those years and also became a new father during that time. I can only imagine being a new father and working for Prince would have been tough to do with the demands required with Prince. Please share what you know about the firing if your facts state otherwise. I think the elders are aware of the truth which helps guide their decisions on what and who is best for their and Princes business. I'm rooting for the elders because it's their inheritance to do as they wish and they know how hard their brother worked and fought to become such an Icon and did not sell him out. "What if half the things ever said Turned out 2 be a lie How will U know the Truth?"

Hi Lawnie. Sour grapes you couldn't get your hands on more?

I came back to this post and deleted my comment because I can't be bothered dealing with your bs. Everything is out there on the net for everyone to see and also in the court documents.

"What if half the things ever said Turned out 2 be a lie How will U know the Truth?" Back atcha'.

[Edited 1/7/22 9:39am]

TheEquilizer said:

onlyforaminute said:

Nobody had a problem with him until he pulled that thing with Sony at the beginning of all this causing a whole heap of problems

.

His greed made him not pay enough (!) attention to overlap between the contracts.

Otherwise it could have worked.

.

Admittedly, I haven't been around here for quite some time, but anybody know whether that Raffles van Exel guy is still in the picture?

TheEquilizer said:

Looking back at the early court filings regarding the corporations involvement and the way they went about taking control of the heirs interest is a prime example of industry rule 4080. i.e. Alfred Jackson.

Fill me in, who confirmed that the man you are refering to who got a hold of a piece of the elders inheritance was fired by Prince? Wasn't he employed with Prince the longest, 13 years if I'm not mistaken? I think he also helped Prince get slave off his face, generated business opportunities where Prince made the most money during those years and also became a new father during that time. I can only imagine being a new father and working for Prince would have been tough to do with the demands required with Prince. Please share what you know about the firing if your facts state otherwise. I think the elders are aware of the truth which helps guide their decisions on what and who is best for their and Princes business. I'm rooting for the elders because it's their inheritance to do as they wish and they know how hard their brother worked and fought to become such an Icon and did not sell him out. "What if half the things ever said Turned out 2 be a lie How will U know the Truth?"

Are the Elders going to keep PP open? Do they have a plan? Can they make the music come out faster?

PennyPurple said:

TheEquilizer said:

Looking back at the early court filings regarding the corporations involvement and the way they went about taking control of the heirs interest is a prime example of industry rule 4080. i.e. Alfred Jackson.

Fill me in, who confirmed that the man you are refering to who got a hold of a piece of the elders inheritance was fired by Prince? Wasn't he employed with Prince the longest, 13 years if I'm not mistaken? I think he also helped Prince get slave off his face, generated business opportunities where Prince made the most money during those years and also became a new father during that time. I can only imagine being a new father and working for Prince would have been tough to do with the demands required with Prince. Please share what you know about the firing if your facts state otherwise. I think the elders are aware of the truth which helps guide their decisions on what and who is best for their and Princes business. I'm rooting for the elders because it's their inheritance to do as they wish and they know how hard their brother worked and fought to become such an Icon and did not sell him out. "What if half the things ever said Turned out 2 be a lie How will U know the Truth?"

Are the Elders going to keep PP open? Do they have a plan? Can they make the music come out faster?

From the looks of it The Elders are constantly fighting for their estate, they didn't and won't sell out. There's far too much music and video for it to come out faster with all the choices and quality it deserves. Patience is a noble virtue, and when exercised, does not fail of it's reward.

TheEquilizer said:

PennyPurple said:

Are the Elders going to keep PP open? Do they have a plan? Can they make the music come out faster?

From the looks of it The Elders are constantly fighting for their estate, they didn't and won't sell out. There's far too much music and video for it to come out faster with all the choices and quality it deserves. Patience is a noble virtue, and when exercised, does not fail of it's reward.

Thank you for answering. Looking forward to the music!