Prince's estate is getting hit with a hefty tax bill that could end up taking half of his estimated $250 million fortune - and force the early sale of some of the vast troves of unreleased music that the Purple One had locked up in his vault, the trustee for the estate revealed. Doug Peterson, an attorney for Bremer Trust, the company chosen to oversee the estate, told a Carver County judge on Tuesday that taxes equal to half of the cash value of the estate are due to the state of Minnesota and the federal government, according to NBC News.
- 6/8/2016
- by Lindsay Kimble, @lekimble
- PEOPLE.com
Prince's estate is getting hit with a hefty tax bill that could end up taking half of his estimated $250 million fortune - and force the early sale of some of the vast troves of unreleased music that the Purple One had locked up in his vault, the trustee for the estate revealed. Doug Peterson, an attorney for Bremer Trust, the company chosen to oversee the estate, told a Carver County judge on Tuesday that taxes equal to half of the cash value of the state are due to both Minnesota and the government, according to NBC News. He noted...
- 6/8/2016
- by Lindsay Kimble, @lekimble
- PEOPLE.com
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