I was a part owner of a retail business (store) from 2002 to 2003. I was listed as an officer of the business with IRS and State of Michigan. I sold my share of the business in 2003 and I am pretty sure my accountant at that time filed the paperwork to remove me as an officer. I have not heard anything about this business for 9 years. How I started getting letters from IRS and State of Michigan stating I owe Federal and sales taxes for various years since 2003. I no longer have any paperwork about the sale of the business, and the accountant is no longer in business. I tried calling state and IRS but they say I am listed as an officer of the business and need to pay because the store is not paying their taxes. Not sure what to do at this point.
Small business taxes include state and federal income taxes and employment taxes, self-employment taxes, and excise taxes.
A sales tax is a tax paid to a local or state government for the sale or lease of goods and services.
by attorney Thomas J. West
Often Colorado Companies wonder whether they need to collect (and then remit) sales tax for the services they provide. The simple answer, NO.... more