2006-10-18 12:43:22 · 5 answers · asked by Julie L 1 in Business & Finance ➔ Corporations
Generally, the answer is no. Corporations are not liable for the personal business decisions which are unrelated to the corporation's affairs. If the person is a key employee, the company might have a problem if the person goes to jail. Other than that, there isn't much of a risk. The company is responsible for withholding properly and there are some new provisions which hold companies responsible if the IRS requires the employee to have more taxes withheld. The company could get in trouble for not doing that. If that is an issue, you might want to look at the recent IRS pronouncements in the area of withholding and W-4 fraud.
2006-10-18 14:02:52 · answer #1 · answered by BizAnswers 3 · 3⤊ 0⤋
employer might want to no longer owe any income tax notwithstanding this is going to owe minimum employer tax and/or franchise tax, employer information filing tax and may want to correctly be some extra. So first dissolve your employer quickly.
2016-12-04 23:40:26 · answer #2 · answered by ? 4 · 0⤊ 0⤋
Sure. Since that person could go to prison if they continue to defy the government. If they have an agreement to pay their taxes, even if they are behind, that's another thing.
2006-10-18 12:51:12 · answer #3 · answered by Coffeyvillian 3 · 0⤊ 1⤋
Only if he is the reason the company exists
2006-10-18 12:47:19 · answer #4 · answered by waggy_33 6 · 0⤊ 0⤋
yes. Part of the members articles of incoroporation, say they will not or are not in banckrupcy, or failed to pay Income taxes. In other words, honest and not a risk
2006-10-18 12:49:07 · answer #5 · answered by wingedladyk 3 · 0⤊ 1⤋