club_cafe: NJ Investment Club Partner Fees
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club_cafe: NJ Investment Club Partner Fees Lynn, Once you take back this miserably cold weather we've been having in NJ, you'll have nothing to worry about. <g> Seriously, this is only relevant to NJ based investment clubs. If a NJ club has more than (# Members)*$35,000 in total assets as of 12/31/02, they are subject to a fee of $150/partner. The threshold for exemption will be adjusted each year for inflation. The options for clubs which are prosperous enough to exceed the threshold are: disband, split, take in lots of new members with small shares (to bring the average down), or pay the fee. As to what other states may do, that's always an unknown. Ira Smilovitz In a message dated 01/23/03 4:32:05 PM Eastern Standard Time, garbagecop@foxinternet.net writes: Thanks Ira, for sharing that information. So what does that mean for the |
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