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Ratings. Guidance. The Right Lawyer.
I have a business license in Washington State and have never paid state taxes.
Bellevue, WA
Viewed 25 times.
Posted 7 months ago in Tax
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I've flown under the radar because I'm small and work out of my own home and have never made more than 50k. I'd like to go legit grow the business and form a corporation but I'm afraid that I'll end up having to file for bankruptcy if I get penalized and have to pay back taxes. What can I do?
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Answers (1)
Fabio Ambrosio
This attorney is licensed in Washington.
Posted 15 days ago.
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Tough spot, but there is always a way out. First of all, you need to call a lawyer that can handle state tax problems. A mere "tax lawyer" is not enough because Washington state tax work in an entirely different way from federal tax.
Generally, your business will be subject to B&O taxes and the collection of sales taxes (depending on what kind of business you run, you may not have to collect sales taxes). The issue with the sales tax is much more serious than B&O. If you're a service provider, you're exempt from the sales tax requirement and your only problem would be B&O. This would probably be an "easy" fix. If, on the other hand, you're a retailer who's been collecting (but has not remitted) sales tax to the state you're in much bigger trouble, Give me a call if you'd like to discuss this further. I can certainly help you with your situation but I would need to know a lot more facts about you and your business in general. Fabio Ambrosio Attorney at Law (206)801-0985 www.ambrosiolawfirm.com Disclaimer: This answer does not create an attorney-client relationship and is for informational purposes only. It is not, nor is it intended to be, legal advice. You should consult your attorney for legal advice tailored to your individual circumstances. |
