Rovers Posted September 26, 2011 Share Posted September 26, 2011 So, due to health issues last year, I had to sell off my modestly successful landscaping biz. I am now gainfully employed at Home Depot with a part time job where I am clearly overpaid, but that is beside the point. I started to get threatening letters from NYS, my county office of consumer affairs, NYS workman's compensation, the NYS DEC (Dept of Environmental Conservation) and several other government offices. It seems that just going out of business requires one to pay to do it. I have to file notarized declarations, pay fees, file for this in person at several agencies, or I have been threatened with fines of up to a total of $20,000 and possible jail time.... all for having my biz tank due to health issues. I have to pay about $750 and spend several days at governemnt offices waiting on lines and paying fees to just go out of business in this state. Or... go to jail. They tell me I must do this on Monday, regardlerss of my work schedule, I have been subpoenad. What a country! The land of opportunity, but if you fail for whatever reason, they will come after you. And they ain't jokin. If I was just a tiny bit more mentally unstable than I am now... I could go Timothy McVie on these fine folks. Quote Link to comment Share on other sites More sharing options...
nuke'em ttg Posted September 26, 2011 Share Posted September 26, 2011 i sure like the way they hammer the hard workin guy, i'm sick of payin penaltys and parkin in the wrong spot and they are judge,jury,executioner over the wrong friggin people, what a bunch of pussys throwin there weight around sure glad they got that crime and drug chit under control. Quote Link to comment Share on other sites More sharing options...
Jimmy Neutron Posted September 27, 2011 Share Posted September 27, 2011 Sorry to hear it, Rovers. Over regulation in this country is not mere rhetoric. In far too many cases, it is debilitating to good people just trying to get by. Quote Link to comment Share on other sites More sharing options...
Perchoutofwater Posted September 27, 2011 Share Posted September 27, 2011 I wish I could have closed my business for as little. It has cost me well over $50,000. Quote Link to comment Share on other sites More sharing options...
muck Posted September 27, 2011 Share Posted September 27, 2011 I am wholly empathetic to your plight, Rovers and Perch. :puke: Quote Link to comment Share on other sites More sharing options...
MrTed46 Posted September 27, 2011 Share Posted September 27, 2011 I wish I could have closed my business for as little. It has cost me well over $50,000. Why? Quote Link to comment Share on other sites More sharing options...
BeeR Posted September 27, 2011 Share Posted September 27, 2011 (edited) Sorry to hear it, Rovers. Over regulation in this country is not mere rhetoric. In far too many cases, it is debilitating to good people just trying to get by. To say the least. Trust me if you haven't experienced it first-hand, you have no idea what a cluster (you know) govt is with it's red tape idiocies and idiocies in general, and esp with small businesses. How freaking absurd. Rover sorry to hear. Let me know if you need an alibi re the McVeigh thing. We were at the Jets game your honor. Edited September 27, 2011 by BeeR Quote Link to comment Share on other sites More sharing options...
Perchoutofwater Posted September 27, 2011 Share Posted September 27, 2011 Why? Buying out contracts and accounts, additional accounting requirements, and fees to the state. Quote Link to comment Share on other sites More sharing options...
Sugar Magnolia Posted September 28, 2011 Share Posted September 28, 2011 I have sold two businesses in California and it cost me maybe $50 in processing fees. Both were profitable businesses, and I am not counting capital gains as a transaction cost. That's a tax, not a fee. Accounting costs are a cost of doing business, as well as a cost of going out of business, so that's a given. Mine were about $150, mainly asking questions about closing employee pension plans, and what federal and state forms to fill out. I would be curious to know what the fees were attached to your sales. Quote Link to comment Share on other sites More sharing options...
Perchoutofwater Posted September 28, 2011 Share Posted September 28, 2011 I would be curious to know what the fees were attached to your sales. Most of it is storage costs associated with keeping all our plans, specifications, and job files for the required 10 years after completion. This is required by law, as well as the insurance company. We will be renting two pods at roughly $100 each per month. That is $2,400 a year or $24,000 over the ten years. Then you have to buy out the lease contacts on the equipment, primarily specialized office equipment like plotters, and plan scanners/copiers. Buying out these contracts is probably the second largest expense after the storage. Then you have the typical HR stuff. The fees to the state are actually the smallest cost associated with closing. Quote Link to comment Share on other sites More sharing options...
Square Posted September 28, 2011 Share Posted September 28, 2011 Most of it is storage costs associated with keeping all our plans, specifications, and job files for the required 10 years after completion. This is required by law, as well as the insurance company. We will be renting two pods at roughly $100 each per month. That is $2,400 a year or $24,000 over the ten years. Then you have to buy out the lease contacts on the equipment, primarily specialized office equipment like plotters, and plan scanners/copiers. Buying out these contracts is probably the second largest expense after the storage. Then you have the typical HR stuff. The fees to the state are actually the smallest cost associated with closing. Doesn't sound like most of that has to do with state or government fees. Mainly looks like business deals (lease agreements on office equipment and maintaining the plans & specs per your agreed contracts). I'd like to be an owner some day (as they seem to be the only one who makes the real money in my biz) but don't know if I'll get the opportunity. I'm sure there are plenty of headaches to go along with it, but it'd be nice sometimes. Quote Link to comment Share on other sites More sharing options...
Perchoutofwater Posted September 28, 2011 Share Posted September 28, 2011 Doesn't sound like most of that has to do with state or government fees. Mainly looks like business deals (lease agreements on office equipment and maintaining the plans & specs per your agreed contracts). I'd like to be an owner some day (as they seem to be the only one who makes the real money in my biz) but don't know if I'll get the opportunity. I'm sure there are plenty of headaches to go along with it, but it'd be nice sometimes. The governmental fees are minimal. I was just agreeing with what the thread title stated. Going out of business is expensive. As to owning your own business, I'd encourage you to do so. I plan on buying or starting a new business really soon. It has both it's positives and it's negatives. The positives: You have more freedom with your time. If you do your job well you will make more money. It provides an added sense of accomplishment. The negatives: While you have more freedom with your time, you find that you are thinking about the job all the time. If you screw up you don't just get fired, but more than likely you lose a good deal of your savings. If you have employees you are responsible for the stupid stuff they do. Quote Link to comment Share on other sites More sharing options...
Rovers Posted September 29, 2011 Author Share Posted September 29, 2011 Sorry to hear it, Rovers. Over regulation in this country is not mere rhetoric. In far too many cases, it is debilitating to good people just trying to get by. It's very simpl,e, really. The governemnt, at every level charges fees for EVERYTHING. I'm sure you are familiar with this quote: The bureaucracy will expand to meet the growing needs of the bureaucracy. Definition of BUREAUCRACY 1a : a body of nonelective government officials b : an administrative policy-making group 2: government characterized by specialization of functions, adherence to fixed rules, and a hierarchy of authority 3: a system of administration marked by officialism, red tape, and proliferation I had several permits and licences, all of which I simply allowed to expire. That is not acceptable to the bureaucracy. No longer having a permit/license is an offense punishable by fines and even jail time. Unless you renew them, it is assumed you are still operating, but ilegally. I understand this with state sales tax stuff, but the rest of it is simply a money grab to fuel the bureaucracy. I had to show up at 4 different agencies in person, wait in long lines, pay to file cessation of business forms, pay fees, file affadavides, file notarized forms, and my total cost (including lost wages) was about $750. It is anti business, anti capitalism. Anti entrepreneurial. You need to have thousands on hand to hire lawyers, accountants and consultants to avioid the bureaucratic land mines that have been laid to start a business, and I haven't even gotten into income taxes here, another can of worms for a biz owner. The goverment is in business for the government and it's bureaucracy, not for the people, although that is how bureaucrats rationlize what they do and how they do things. They go by one assumptiuon... everyone is a crook, a thief, and they are there to catch them. So what if they trample on the ideals this country was founded upon.... they think they are the guardians of our governement. In fact, they stand for everything we revolted against England for. An unwavering, taxing oppression that is a blight upon this once great nation. Unthinking inflexable robo trons is what bureaucrats are. They should all rot in hell. Bitter? ya... a wee bit. Quote Link to comment Share on other sites More sharing options...
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