From: troll@sug.org (Alex Newman)
Date: Mon, 14 Mar 94 16:54:40 EST
Message-Id: <9403142154.AA01175@bridge.sug.org>
To: carolingia@bloom-beacon.mit.edu
Subject: Re: autocrat's pledge


<Among the things the SCA provides is Officers Liability insurance, in
<addition to the regular liability insurance.  This protects those people who
<are acting in the SCA's name, for any damages which a court says they might
<have to pay.

Agreed.  E&O insurance is a separate matter entirely - and not cheap
either ("Errors & Omissions" insurance).

<I disagree with Alex about having to pay taxes on the Gross from Maslenitsa.
<It would be the most trivial thing to set up a MA for profit corporation (as
<he knows) and pay taxes on the net, instead.

Setting a corporation in Mass will cost us more than we'd save.
Assuming we could find some lawyer to draw up the papers pro bono,
filing fees still run about $500.  Then to maintain the corporation -
even in a zero-profit state - costs about $1000 per year, more if you
start counting ERS taxes.

Despite what Harald says, deductions for expenses are not done on a
dollar per dollar basis.  Taxes are figured on gross, with some
deductions for expenses (cost of goods, etc), but if you breakeven you
are still liable for taxes.

--Yevsha


++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
Alex Newman		Sun User Group		"In a year and a day come
troll@sug.org		1330 Beacon St.,	to the Palace, wearing a
(617) 232-0514 voice	Suite #315		robe of chicken feathers
(617) 232-1347 fax	Brookline, MA 02146	and carrying a 6' radish."