Prince, also known as ‘The Purple One,’ is in a deep financial problem. The singer, known for such hits as ‘Purple Rain,’ ‘Little Red Corvette,’ and others seems to have created his own situation by not paying his taxes. He heads PRN Music Corporation. The business is located in his Paisley Park in Minnesota. He owes the state $227,000 in taxes.

Prince apparently owes the tax which was due in 2009. There was an additional 10 per cent penalty of $27,000 added because it is delinquent. However, the taxes owed do not stop there. The county tax collector estimates he owes additional taxes to the tune of $450,000. The Purple One needs to gather up the money by April 21, or file an objection to the ruling, if he does not do one of the two he could then face forfeiture on the properties. He has owned some of the properties since the 1980′s.

Prince, whose birth given name is Prince R. Nelson, had his delinquencies listed, along with a number of other people, in the ‘Chaska Herlald’ last week. Prince, as well as his representatives, were not available for discussion of the situation as the singer and his businesses have unlisted phone numbers.