2279

Business/Net Equity Worksheet

BUSINESS NET EQUITY WORKSHEET Case Name: __________________________________________________ State and District: __________________________________________________ Court Case of Docket No.: __________________________________________________ Name of Business: __________________________________________________ a. Net worth[FN1] $_____________ (date of net worth appraisal __________) minus b. Expenses[FN2] -____________ plus c. Income[FN3] +____________ equal d. Net Value =____________ a. Net Value $____________ minus b. Liens[FN4] -____________ equal c. U.S. equity[FN5] = __________ a. U.S. equity $____________ divided by b. Appraised value ____________ equal c. Percentage of U.S. equity[FN6] = __________ % ____________________________________________ Prepared by: (Name/Title) Date FN1. Business Net Worth = Assets minus Liabilities. Assets include real property (lands and structures) owned, or leasehold interests held, by the business. FN2. Includes maintenance and disposal expenses, e.g., advertising, sales commission, sellers expenses, property manager salary, amounts not paid from business revenues, etc. FN3. Business revenues less operating expenses. FN4. Includes total of all liens, principal and interest from the date of seizure to the date this worksheet is completed. FN5. Districts are not authorized, without additional approval, to pay a lien or liens totalling more than $50,000. FN6. U.S. equity must be at least 20% or more of appraised value in order to pay a lien prior to sale. [cited in Criminal Resource Manual 2205]