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Microcap & Penny Stocks : FAMH - FIRAMADA Staffing Services
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To: David A. Irvine who wrote (10498)4/3/1998 6:12:00 PM
From: Cat-fan  Read Replies (5) of 27968
 
I'm surprised no one has expressed any concern about the Myriad tax liabilities. Are these income taxes or payroll taxes? Well-managed, profitable companies do not get in arrears to the tune of $11MM. Also, this is at the federal level, what about state and local taxes? There hasn't been any mention of these. Usually if you're behind with one, you're behind with state and local taxing agencies also. This tax debt could be the result of several reasons: 1) small profit margins 2) poor or slow cashflow 3) poor cash management or 4) owners taking out too much profit and not paying taxes. No one likes to pay taxes but this is a cost of doing business. Not paying taxes is a very expensive form of borrowing what with penalties and interest. One thing I've learned in business is you don't screw around with the IRS. Any comments? By the way, I am not a FAMH basher, but I do believe this is a legitimate issue.
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