NEWS FLASH from the Tax on Time meeting—a settlement with Chrysler’s tax bill is in the making

I attended the Tax on Time meeting on Thursday morning at Belvidere Township Hall.  Curt Newport, Boone County Treasurer, reported that a tentative agreement has been reached with the parties involved.  Chrysler’s bankruptcy lawyers will pay the tax bill and a small “penalty”.  The remaining penalty will be considered an unsecured debt by the bankruptcy court and grouped with other unsecured Chrysler debts.

Payment should be coming soon but no date was disclosed.

Bill Pysson