Benjamin A. Stolz’s Answers

Benjamin A. Stolz

Dallas Tax Lawyer.

Contributor Level 11
  1. Texas LLCs and Reverse Piercing?

    Answered 13 days ago.

    1. Benjamin A. Stolz
    2. Solomon Morrow
    3. Ronald J Cappuccio
    3 lawyer answers

    This is a rather complex issue and I suggest you speak to a business law attorney also familiar with tax issues associated with LLCs. The information below reflects merely my view and is a very simplified if not overly simplified explanation of the legal issues touched on in your question. In the most general of terms, state law will control whether the IRS or any creditor has the right to LLC assets. In general, the answer is that creditors of an LLC member have no rights to the "assets"...

    7 lawyers agreed with this answer

  2. I am leaving an LLC partnership, and upon leaving she wants me to sign a contract that bars me from competing in the same area.

    Answered 7 months ago.

    1. Benjamin A. Stolz
    2. Robert Neil Newton
    3. Elizabeth Marguerite Broussard
    4. Jennifer Jane Clayton
    4 lawyer answers

    You cannot be forced to sign a non-compete. In general, most restraints on competition are unlawful under Texas law, but Covenants Not to Compete are an exception. Under the Texas Covenant's Not to Compete Act, a covenant not to compete may be enforceable if it is: 1. Ancillary" to another enforceable agreement; and 2. Reasonable Some LLC Operating agreements have "restrictive covenants" and depending on State law, they may or may not be enforceable against their members. It's not...

    5 lawyers agreed with this answer

  3. Can the trustee convert my chapter 13 bankruptcy to another chapter involuntarily?

    Answered 13 days ago.

    1. Benjamin A. Stolz
    2. Peter R Kaplan
    3. Ryan J. Dove
    4. Derek R. Caldwell
    5. William J Popovich
    5 lawyer answers

    As stated by my colleagues, its is best to schedule an appointment to speak to you own attorney. He or she will be intimately familiar with (a) the bankruptcy process and (b) what is going on in your case. I know sometimes is seems easier to use AVVO an AVVO is a great resource, but nothing beats the advice of your own attorney.

    4 lawyers agreed with this answer

  4. My LLC (& one DBA) is being sued and the LLC is broken into two DBAs - can I protect the DBA that is not involved in the lawsuit

    Answered 5 months ago.

    1. Samuel Joseph St. Romain
    2. Benjamin A. Stolz
    3. Mark M. Oxford
    4. Ivan Ramirez
    5. Michael Charles Doland
    5 lawyer answers

    Although I believe its implied in my colleagues responses, a D/B/A/ is just a label under which your legal entity operates, its has no independent existence. In general, a company with several lines of business might operate them as a division for planning purposes (mostly larger corporations). Certainly, have two lines of business might be a reason to use two d/b/a for purely marketing reasons or to brand websites, but as stated, you have one legal entity and it likely holds all the assets. If...

    4 lawyers agreed with this answer

  5. What is the risk in owning 10% equity in a startup? I am being asked to provide my time to help build leads for the business.

    Answered 7 months ago.

    1. Robert Werner von Dohlen
    2. Benjamin A. Stolz
    3. Robert Neil Newton
    4. Elizabeth Marguerite Broussard
    4 lawyer answers

    Accepting stock for compensation can be very complicated and before you do so you should definitely speak to a business attorney familiar with start-ups. Without more details it is hard to comment in much details because there are so many ways stock could be awarded to an employee. However, just to give you one tax consideration, take a look at the great post by this attorney (below): http://ayrlaw.com/what-is-an-83b-election-and-when-do-i-make-it-part-1-with-graphic/ It should at least...

    3 lawyers agreed with this answer

  6. Case for derivative action by Texas law? Partner in LLC has been directing clients to his new business. No operating agreement.

    Answered 6 months ago.

    1. Benjamin A. Stolz
    2. Robert Neil Newton
    3. Melissa Orozco Garci Martin
    3 lawyer answers

    The Texas Business Organizations Code replaced the Texas Limited Liability Act some time ago. Even though you have no Operating agreement, there are legal limits on what one LLC member may do. It would be necessary for most attorneys to sit down with you before they could advise whether litigation is warranted. Many attorneys offer a free initial consultation during which time they can collect all the facts and give you an idea of the advisability or litigation and its costs. As you might...

    Selected as best answer

  7. Bankruptcy?

    Answered 3 months ago.

    1. Lu Ann Trevino
    2. Richard Arthur Flume
    3. Benjamin A. Stolz
    4. Dorothy G Bunce
    5. Shelley Ann Elder
    5 lawyer answers

    I agree in general with my colleagues; however, it appears to me that your real issue is how to deal with the 1.1MM in tax liability. Depending on how old the liability and other factors, you may have options to resolve the IRS debt both inside and outside bankruptcy. I would look for a bankruptcy attorney that also does tax work. If the underlying tax liability is old and the returns were timely filed, you may have some options in bankruptcy (ask your attorney to explain). You also need to...

    2 lawyers agreed with this answer

  8. In Texas, can your HOA file a lien against your home two days after you filed in court to begin your Chapter 7 Bankruptcy

    Answered over 3 years ago.

    1. Benjamin A. Stolz
    2. Kenneth Clay Courville
    3. William James Rogers
    4. Mitchell Paul Goldstein
    4 lawyer answers

    Just a quick comment. If the lien is set aside, a bankruptcy may wipe out the pre-petition arrears because they will be unsecured like most of your other debts. The Bankruptcy Code, however, makes it clear in Section 523(a)(16) that homeowner’s assessments coming due after the date of the filing of the petition commencing the bankruptcy case are not discharged in the bankruptcy. Homeowner's assessments in this bucket remain the personal debts of the debtor who holds title to the property and...

    2 lawyers agreed with this answer

  9. In texas, my husband won't let me file my home base businesses taxes without him filing his also...

    Answered over 3 years ago.

    1. Benjamin A. Stolz
    2. Randall S Perrier
    3. Andreas F. Zybell
    4. Eliz C A Johnson
    5. Henry Daniel Lively
    5 lawyer answers

    Last year, 2,105 criminal tax convictions were made and 1,810 taxpayers were incarcerated. Although civil penalties are normally assessed, if the IRS discovers a habitual non-filer before voluntary disclosure, either through its own non-filer programs or through an informant, the IRS will often refer the matter to the Criminal Investigation Division (CID) to determine if criminal prosecution is warranted. Failing to File a Tax Return can be a misdemeanor. Normally civil tax penalties are...

    1 lawyer agreed with this answer

  10. Can a False Claims Act be filed as an adversary proceeding if it relates to an active Chapter 11 Bankruptcy Case?

    Answered over 3 years ago.

    1. Benjamin A. Stolz
    2. Theodore Lyons Araujo
    3. Lysbeth Goodman
    3 lawyer answers

    Sealing documents in Bankruptcy Court is possible. Section 107 of the Bankruptcy Code provides: (a) Except as provided in subsection (b) of this section,a paper filed in a case under this title and the dockets of a bankruptcy court are public records and open to examination by an entity at reasonable times without charge. (b) On request of a party in interest, the bankruptcy court shall, and on the bankruptcy court's own motion, the bankruptcy court may– (1) protect an entity with...

    Selected as best answer

Call now for a free consultation.

214-446-3934