Kanye West‘s Yeezy Apparel company is said to reportedly owe over $600,000 (£491,475) in unpaid taxes to the state of California.
According to NBC News, the company West owned outside his Adidas and Gap partnerships received three separate notice letters in July 2021, in February and in September of this year.
USC Gould School of Law Professor Edward McCaffery, who specialises in tax law told the broadcaster: “Multiple California tax liens, adding up to $600,000, that’s certainly a sign of either extreme incompetence or extreme cash problems.”
Yeezy Apparel has been operating in California since 2017, according to public California business records obtained by NBC News, and was recorded as being active and in “good” standing in an annual filing in January.
NME has contacted a publicist for West for comment.
Kanye West. Credit: MEGA/GC Images
It comes after the rapper previously revealed that he owed $50million (£41.6m) in taxes.
During a recent interview on Tim Pool’s Timcast IRL podcast (which the rapper stormed out of after being challenged on his antisemitic views), Ye said the Internal Revenue Service had locked down $75m (£62.4m) in his accounts because he owes $50m in tax.
West told Pool that his “finance people” had notified him that he will “have to pay a lot of taxes”.
“I’m talking about literally finding out that they were trying to put me in prison this morning,” he continued. “But I found out … they put a $75m hold on four of my accounts.”
West added: “And then they said, ‘You owe a lot of taxes’. Took me like six hours to find out how much… around $50m.”
In October, it was reported that the rapper is no longer a billionaire after Adidas terminated their contract with the artist and entrepreneur over his recent anti-semitic comments. His net worth is said to have plummeted from $2billion (£1.6bn) to $400million (£333m).
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