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Six Arizona cities on list of most taxed

by Administrator 23. August 2010 05:28
Six Arizona cities have found themselves near the top of a nationally compiled list of highest combined state and municipal sales taxes. 

The Washington, D.C.-based Tax Foundation found that Phoenix and four of its suburbs alone take five of the top 25 spots, with Glendale at No.8 with a 9.6 percent, Phoenix 12th at 9.4 percent, Mesa 19th at 9.15 percent, Scottsdale 18th at 9.05 percent, and Chandler and Gilbert tied for 23rd at 8.9 percent. 

The study encompassed 107 metro areas with a requirement that they be composed of 200,000 or more people. 

Birmingham and Montgomery, Alabama, took the number one and two spots, with combined rates of around 10 percent. Anchorage, Alaska, and Portland, Oregon, were the only two cities that met the population requirement but did not charge a local or state government sales tax. 

If you have been hit hard by recent tax hikes or are struggling in this economy, contact the Arizona Consumer Bankruptcy Lawyers of the Harmon Law Office, LLC at 480-829-0494 for bankruptcy advice.

Six Arizona cities on list of most taxed

by Administrator 23. August 2010 05:28
Six Arizona cities have found themselves near the top of a nationally compiled list of highest combined state and municipal sales taxes. 

The Washington, D.C.-based Tax Foundation found that Phoenix and four of its suburbs alone take five of the top 25 spots, with Glendale at No.8 with a 9.6 percent, Phoenix 12th at 9.4 percent, Mesa 19th at 9.15 percent, Scottsdale 18th at 9.05 percent, and Chandler and Gilbert tied for 23rd at 8.9 percent. 

The study encompaased 107 meotr areas with a requirement that they be composed of 200,000 or more people. 

Birmingham and Montgomery, Alabama, took the number one and two spots, with combined rates of around 10 percent. Anchorage, Alaska, and Portland, Oregon, were the only two cities that met the population requirement but did not charge a local or state government sales tax. 

If you have been hit hard by recent tax hikes or are struggling in this economy, contact the Arizona Consumer Bankruptcy Lawyers of the Harmon Law Office, LLC at 480-829-0494 for bankruptcy advice.

Bashas' plan to exit bankruptcy approved

by Administrator 20. August 2010 01:49

Last Friday, an Arizona judge approved the Arizona grocer Bashas' Inc.'s plan to exit Chapter 11 bankruptcy.  Judge James Marlar, who approved the plan, said that he approved Bashas' Inc.'s exit strategy despite objections from its creditors because he believed it would speed up the case and benefit all parties involved.  

"Any new plan could not exceed the 100 percent payment now proposed ... It would be futile to go back to the drawing board, with an acceptable 100 percent payment plan now before the court," stated Marlar.

Bashas' filed for Chapter 11 bankruptcy in June 2009 with $271 million in liabilities and $386 million in assets.  Chapter 11 bankruptcy allows a business to continue operating while they restructure the company and create a plan to pay off lenders.  Bashas' Inc. plans to pay back $155 million in remaining debt over a three year period.

If you or someone you know is considering filing for Chapter 11 bankruptcy protection, contact the Arizona Chapter 11 bankruptcy lawyers of Harmon Law Office, LLC at 480-829-0494 to learn more about your rights. 

Arizona Heart Institute files for bankruptcy

by Administrator 6. August 2010 02:44

Arizona Heart Institute, one of the oldest physician-owned heart institutes in the nation, has filed for bankruptcy. The bankruptcy filing comes as a part of an acquisition deal for a for-profit healthcare company.

Abrazo Health Care, a subsidary of Vanguard Health Systems, recently announced the deal. The heart institute was founded nearly 40 years ago by a world-renowned cardiovascular surgeon. The surgeon said that the company only filed bankrutpcy as a part of the deal and that Vanguard will be buying the companies assests free and clear.

A spokeswoman from the institute has announced that the purchase is only part of the reorganization process of the company. Vanguard will purchase the institute and redistribute the funds so that the institute can pay off their debt.

If you or your business are looking to get out of debt and make a fresh start and you would like to learn more about filing for bankruptcy, contact the Arizona business bankruptcy lawyers of the Harmon Law Office LLC by calling 480-829-0494.

A-1 Beer Patent and Trademark Purchased in Bankruptcy Court

by Administrator 27. July 2010 00:07

Th Daily Courier reports that it may not be long until the once popular A-1 beer will make it back into your local bar. The beer brand was once called Arizona "Bud." It then fell on hard times, forcing it into bankruptcy.

For people who thought there was no hope for the beer other than its memorabilia, Eli Drakulich has again provided hope. Drakulich purchased the patent and trademark for the beer in bankruptcy court. He then recruited Nimbus Brewing Co. to help distribute the beer.

Now the company is trying to iron out the details, like finding the old recipe for the brew. 

Bankruptcy can be a tough issue to face, but you don't have to face it alone. If your business is facing bankruptcy, contact the Arizona Business Bankruptcy Attorneys at the Harmon Law Office, LLC, by dialing 1-877-829-0494.

Local Grocery Chain Facing Reorganization Under Chapter 11

by Administrator 23. July 2010 01:12

According to KSWT, "Arizona grocer Bashas' Inc. is seeking court approval of a plan to reorganize and repay its debts over the objections of its largest creditors." The company has been running with bankruptcy protection under Chapter 11 for a year now. 

Basha has about 125 stores throughout the state of Arizona. Their creditors are opposed to the reorganization plan, which proposes to use its $104 million in cash to pay off some of its $300 million in debt. Creditors do not think the company is financially sound. According to them, a plan like this could sink the grocery chain before it gets to pay the debt.

If you or someone you know is facing Chapter 11 Bankruptcy, contact the experienced Arizona Chapter 11 Bankruptcy Lawyers at the Harmon Law Office, LLC, by dialing 1-877-829-0494.

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