Lordstown Motors Late on Tax Payments
LORDSTOWN, Ohio – Lordstown Motors Corp. will have to fork over an additional $57,000 toward the automaker’s real estate taxes for missing its first half payments for 2020, records show.
According to records from the Trumbull County Auditor’s office, Lordstown Motors failed to pay taxes on time on four parcels totaling $570,958.36, triggering a 10% penalty of $57,095.
The payments were due March 5, and the startup electric vehicle manufacturer now owes a total of $628,053 including penalties and interest.
The auditor’s office shows that Lordstown Motors failed to make tax payments on a parcel of 386.6 acres totaling $446,183; a second lot of 47.3 acres for $3,041.14; a third parcel of 13.5 acres for $203.95; and a fourth lot of 152 acres for $143,603.56.
A spokesman for Lordstown Motors told The Business Journal that the situation is being rectified.
Second half payments of $570,958.36 for 2020 are due Aug. 6.
Lordstown Motors purchased the former General Motors plant and surrounding land for $20 million in 2019. The company is retrofitting the assembly and stamping operations to accommodate production of the Endurance, billed as the first all-electric commercial pickup. The plant is currently producing beta models of the Endurance used for safety validation testing.
Copyright 2022 The Business Journal, Youngstown, Ohio.