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Louisiana Main Street Recovery Grant Debacle
Posted on 2/23/21 at 9:19 pm
Posted on 2/23/21 at 9:19 pm
My family's business was given a grant in November as we met all requirements for COVID relief. We received a call today from the State Treasurer, John Schroder, saying that we have to pay the grant back because while the business has a 25+ year history of paying taxes we were not the owners until end of 2019 -- the sticking point is apparently that they look at 3 years of tax returns and don't like the fact that there was a different owner then.
WTF kind of bullshite is this? Our business and employees were affected just like everyone else. When challenged all he said was "it's the law" and "we're lucky the FBI or LSP aren't involved". We did everything above board and provided everything required. I would rather they had not given us the grant in the first place if they were going to take it away later. No need for the gestapo admonishment either.
The State of Louisiana can kiss my arse. All I've ever done is pay a shitload of taxes to this state. Can't wait to retire and leave this chicken shite state. Thanks for nothing.
WTF kind of bullshite is this? Our business and employees were affected just like everyone else. When challenged all he said was "it's the law" and "we're lucky the FBI or LSP aren't involved". We did everything above board and provided everything required. I would rather they had not given us the grant in the first place if they were going to take it away later. No need for the gestapo admonishment either.
The State of Louisiana can kiss my arse. All I've ever done is pay a shitload of taxes to this state. Can't wait to retire and leave this chicken shite state. Thanks for nothing.
This post was edited on 2/23/21 at 9:21 pm
5
Posted on 2/23/21 at 9:28 pm to RoyalWe
quote:
The State of Louisiana can kiss my arse. All I've ever done is pay a shitload of taxes to this state. Can't wait to retire and leave this chicken shite state. Thanks for nothing
Well, I can understand this feeling. I hate the State of LA too now. I’ve moved to Texas and I’m never ever EVER going to be a resident of Louisiana again.
Posted on 2/23/21 at 9:41 pm to supadave3
Move the company out of state and let them chase you for it.
Posted on 2/23/21 at 10:37 pm to RoyalWe
Contact your congressman, plaster social media, do everything you can to get the people on your side to shed light on this. Even if you end up having to pay it back, at least you made his job difficult
Posted on 2/24/21 at 2:36 am to RoyalWe
quote:
we're lucky the FBI or LSP aren't involved
What a prick
Posted on 2/24/21 at 11:04 am to RoyalWe
The state treasurer himself called you, or one of his employees?
Also, I'm guessing you bought the assets of the business, not the business itself.
Also, I'm guessing you bought the assets of the business, not the business itself.
Posted on 2/24/21 at 4:56 pm to LSUFanHouston
quote:Yes, the actual State Treasurer called.
The state treasurer himself called you
quote:We bought the business, including assuming the assets, accounts payable, accounts receivable, liabilities, etc.
I'm guessing you bought the assets of the business, not the business itself.
Posted on 2/24/21 at 5:45 pm to RoyalWe
quote:
We bought the business, including assuming the assets, accounts payable, accounts receivable, liabilities, etc.
But did you actually buy the stock / membership interests?
LA is very weird about new entities buying the activity of the old entity, instead of the actual entity. I have had some clients get screwed by this when it came to selling the business and trying to qualify for the partial state exclusion on the capital gain of an LA business.
If you start a new legal entity, you don't get any of the time benefits from the old entity, even if the business is basically a continuation.
This certainly sucks for you.
Posted on 2/24/21 at 7:15 pm to LSUFanHouston
Yes. We did not start a new legal entity, but the officers / owners changed. There is a bill of sale and a stock agreement showing who owns what. The old owner is no longer listed.
Posted on 2/24/21 at 8:16 pm to RoyalWe
quote:
Yes. We did not start a new legal entity, but the officers / owners changed. There is a bill of sale and a stock agreement showing who owns what. The old owner is no longer listed.
Well then I'm confused. Y'all should have been eligible then (assuming you meet all the other qualifications).
Posted on 2/24/21 at 8:53 pm to LSUFanHouston
I’d want to review the grant program rules on ownership of the applicant and changes in ownership. You either met the requirements or didn’t.
Posted on 2/25/21 at 7:41 am to Twenty 49
Sound's like he's trying to strong arm you. You provided all the documents, told the truth on the application, and they awarded your business the grant. If you really did something illegal law enforcement would actually be doing something, not a politician bullying you into returning the money. Wouldn't surprise me if he has a brother in law, cousin, etc. who he wants to give the grant money to.
Make them put everything in writing explaining why the grant has to be returned. And lawyer up.
Make them put everything in writing explaining why the grant has to be returned. And lawyer up.
Posted on 2/25/21 at 10:28 am to RoyalWe
quote:
The State of Louisiana can kiss my arse.
Moved from uptown NOLA to West Palm Beach in 2001. tGOAT decision of my life.
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