Rap veteran Nas continues to make headlines for his money woes and, specifically, his reported tax-related complications with the state of Georgia.
According to reports, the Peach State is looking to cash-in on Nas’ fortunes.
The State of Georgia is rooting for Nas to make a fortune on his concert tour … because the government just got the green light to garnish a MILLION BUCKS from his earnings to repay a massive tax debt … TMZ has learned. The Georgia Department of Revenue has filed new legal docs in their effort to collect $1,083,435 from the rapper for taxes it claims Nas owes for the years 2006, 2007, 2009, 2010. (TMZ)
Rather than waiting on Nas to pay up, concert promoter Live Nation is getting forced to withhold fully paying him for his shows.
According to court docs, the GDR obtained an order commanding Live Nation — the promo company behind Nas’ tour with Lauryn Hill — to garnish his wages until the dept is satisfied. The tour is currently underway, and Nas– who’s also on the hook for millions in unpaid taxes to the federal government — is sure to make a boatload of money. A rep for Nas tells us the matter has recently been settled — but the GDR insists the case is still open and they’re trying to collect. Pay your taxes, people. (TMZ)
Last month, Atlanta rapper Gucci Mane poked fun at God’s Son’s publicized money problems.
“Does Nas make a 150 blood money per week off a mixtape,” Gucci asked in a video. “Yeah, blood money. Nas’ f*cked up right now. Yeah. Me and you got [whips], I just bought me [something]. Don’t you have a drop top? … You got the white one, I’m getting the black one? Nas got one? [laughs]” (Hood Affairs TV)
The rap mogul lost one of his Georgia homes through foreclosure a few weeks back.
Life’s a bitch … Nas sang it and now he’s living it … because besides being knee deep in tax debt, TMZ has learned the rapper just lost his Georgia crib to foreclosure. According to official records, Nas purchased the 2-bedroom, 3-bath pad back in 2004 for $585,000 … but according to SunTrust bank (which issued him the loan) … Nas couldn’t foot the bill and defaulted on the payments, still owing $507,000. SunTrust recently foreclosed on the property and then sold it to the highest bidder at public auction last month for $348,500 … WAY LESS than the rapper paid eight years ago. It’s a steal for the new owner — the house is over 3,500 square feet with a walk-in pool and hot tub … granite counter-tops … custom theater … gym and game room. (TMZ)