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3/5/2012 11:29:44 PM
 
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Section 5: OPA Board Subject: OPA Loses IRS Case Msg# 823694
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Again my greatest concern is implementing a policy to prevent a continuation of this problem
GREAT concern? Why. There is only ONE way to avoid the taxes..... sell the parking passes to anyone. Period. End of story. End of any concern. Of course the board will discuss this for at least six or more hours. |
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For reference, the above message is a reply to a message where: Linda, This issue may have been floating around since 2001 and certainly from 2005. Reading the ruling the money OPA receives from Seacrets is not taxable but the money received from our own owners is taxable. Doesn't make sense. I think we were right to appeal the ruling but I always knew there was a good chance we would not prevail. I favor using the reserves to pay off whatever the final number is and I don't think there is any need for a special assessment. Again my greatest concern is implementing a policy to prevent a continuation of this problem. Ted |
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