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indiana business law, state and federal tax liability on a closed business, personal liability for back taxes
Jeffersonville, IN
Viewed 453 times.
Posted about 1 year ago in Tax
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Am I personally liable for back taxes on a closed business?:
My business (an LLC in Indiana) closed in 03 and I filed bankruptcy. The back taxes that are due are for 02 and 03 assessed in 2004. The assessment was a year late on the 02 taxes cause of city/county issues in getting all the assessments done and sent out to the tax payers. At this time the back taxes have been sent to collections and they are threatening to go to court. My question is can they go after me personally or only the business which is gone and has no assets.
Additional information
This is for business tangible personal property, state and federal taxes were taken care of. Answers (1)
Sean M. Sweeney
This attorney is licensed in Wisconsin.
Posted about 1 year ago.
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Like many things it depends. Any taxes owed though is a very serious thing and you should be proactive about it and hire a local attorney to help you out. I have been told that the Trust Account taxes (medicare, social security) etc.. never go away and cannot be discharged- so you are liable for them.
As for the rest of it, you need to speak with someone who can look at your business structure and your tax returns and determine what your liability is and what you can do about it. Good luck, |
