Legal Question in Business Law in New York
Corporation
I would like to create a corporation where I would be the sole proprietor. I believe I may owe money to the IRS and I owe money from a car loan that I did not finish paying. Can the IRS, the bank holding the car loan, or any other creditor seize the funds in the corporation's account?
Asked on 3/16/09, 2:17 pm
1 Answer from Attorneys
NEAL SPECTOR, ESQ.
NEAL S. SPECTOR, P.C.
Re: Corporation
Yes, if you own its shares and they obtain a judgment against you for the debts.
Answered on 3/17/09, 9:51 am
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