First Daughter’s Jewelry Company Owes Over $5,000 In Taxes

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New York State has now taken out a warrant against Ivanka Trump Fine Jewelry for unpaid taxes amounting to $5,165.06

Ivanka Trump

Ivanka Trump is not having a good month.

President Donald Trump’s eldest daughter probably thought her business would experience a huge boom after her father assumed office. Turns out, that is not the case as her business has been bombarded with numerous boycotts because of her father’s rising unpopularity.

Not only have retailers around the United States dropped her line — and thrown away her tags — citing poor sales, New York state has now taken out a warrant against Ivanka Trump Fine Jewelry for unpaid taxes. As of Jan. 27, the company (officially known as Madison Avenue Diamonds, LLC) which is located inside Trump Tower and which carries high end jewelry ranging from $1,000 to $20,000, owes $5,165.06 in taxes.

 

 

 

 

 

And that’s not the only legal issue the company has been faced with.

In March 2016, the New York Supreme Court ordered Trump Fine Jewelry to pay over $2 million, plus interest, to KGK Jewelry LLC over a breach of contract. Trump’s company was required to make several more payments to KGK but, according to it, the jewelry was “of substandard quality” and hence they did not feel obligated to pay them the full sum.

This is the exact same logic that the president used when he wanted to avoid paying his contractors, proving that Ivanka Trump is certainly his daughter.

However, the court rejected this argument and ordered Trump Fine Jewelry to pay $3,059,590.

That’s not all. Last year, the first daughter was also sued by an Italian company that claimed Trump's company copied their designs and sold them as its own. The case is still going on in Manhattan federal court.

All in all, it seems Trump’s been taking business advice from her father. Not a wise decision since the president has, more often than not, been unlucky in his business ventures.

Carbonated.TV
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