A notice of tax lien is a filing in court that asserts a lien or encumbrance on a taxpayer’s property.
Finance said YAS owes the government $328,412.63 in taxes.
The filing of a tax lien serves notice to other creditors that the CNMI government has priority and that any judgments or transactions with an entity may be subject to the tax lien.
YAS counsel, Robert T. Torres, said: “Younis Art Studio is aware of the notice of tax Lien filed by the CNMI Department of Finance. This is a predictable and often-taken move by local or IRS offices to perfect a tax lien and assert priority over other competing creditors.”
Torres said YAS “has entered into an agreement with Finance which it is continuing to honor and has every intention of fulfilling.”
He added, “As a closely held local company in media and publishing since 1972, Younis Art Studio intends to meet this challenge and remove this lien upon fulfillment of tax obligations.”
