Chapter 273 Diverting the Risks (1/2)
Chapter 273: Diverting the Risks
Translator: Nyoi-Bo StudioEditor: Nyoi-Bo Studio
Hearing what Nick had said, Li Du really wanted to just pry open the fella’s head and see whether he had sh*t for brains or not!
Hans was also stunned. Without thinking, he accidentally asked, ”100,000 dollars, you’re taking it?”
Nick said slowly, ”Correct, we accept your offer of 100,000 dollars, but on one condition.”
”What condition?”
”Brigham Young is one of the most respected Shepherds of our church. He is the great leader that led us to our glory. He is the most exemplary President of our church. Thus, the value of the distilling equipment that he made by himself, should be great as well.”
”Yes, it is indeed.” Li Du and Hans nodded in agreement.
Nick continued, ”However, unquestionably, 100,000 dollars is too low a value for it. Such a price is not worthy of its greatness.”
When he heard that, Li Du wanted to give himself a slap on his face. What the hell—is this fool trying to voluntarily raise the price? This is the first time I’ve seen someone doing such a thing!
He was acting worse than a rich fool!
Hans noticed that something was amiss, and asked cautiously, ”So, what should its price be?”
”Five hundred thousand dollars, how about that?” Nick continued speaking in a serious tone.
”Five hundred thousand dollars,” Hans said. ”We’ll get 100,000 dollars, and we’ll return you 400,000 dollars, right?”
”Correct,” Nick revealed a flicker of a smile.
Li Du was getting cautious as well. He understood what Nick meant. These people were not gullible, and they weren’t fools with too much money. They were using this chance to dodge taxes.
There was also another possibly: that they were trying to launder!
Through sales and purchases, then giving rebates; on the surface, this would not seem to be much of an issue, as long as both parties were willing.
However, from a legal standpoint, this was a crime.
Rebates were a form of commercial bribery. It was in the grey area as to whether it was legal, but as long as bail was procured, the person responsible could be bailed out. However, if it were money laundering, they would be sent to jail.
Li Du shook his head immediately after understanding their situation, and dragged Hans to the side. ”This business—forget about it. It’s too risky.”
Hans was also hesitating. ”Yeah, this business isn’t worth it, no point in risking it.”
One hundred thousand dollars for just alcohol distilling equipment was definitely an extraordinary price. If it were sold through ordinary means, even with the silver columns, it would go for at most 20,000 dollars.
Regardless of how much history it had, it wouldn’t be of any use. Neither was it a work of art, nor was there much value in collecting it. In that manner, it couldn’t even be compared to collecting Coca-Cola bottles.
This was why Hans had branded it with the name of someone famous. No matter how antique it was considered, only by having once been owned by someone famous would its value skyrocket.
However, the issue now was that the other party wanted to buy it for 500,000 dollars. An income of 500,000 dollars, came with terrifying taxes, which were the National Tax and State Tax.
Arizona’s tax was relatively low, at 4.54 percent. However, there would also be the federal tax waiting for them. Any individual income of more than 410,000 dollars, the relative tax would be 39.4 percent!
Though, there were some tax rebates and tax exemption policies. In any case, with the income of 500,000 dollars, the minimum tax they had to pay was still about 75,000 dollars.
This means that the actual profit that they would make—after secretly returning the 400,000 dollars to the Mormons—would only be about 25,000 dollars!
Having calculated it out, Hans straightaway rejected the offer.
Nick smiled slightly and said, ”See, I’ve already said that your offer was too low. This was once used by President Brigham Young. So, how does 150,000 dollars sound?”
”With a rebate of 350,000 dollars?” Hans asked.