Legal Question in Business Law in California

Owe Franchise Tax Board, can they put a lein on personal property?
My husband had a Sub-Chapter S Corp. He was also the (only) guarantor. After 1 yr in business his partner moved to Flordia. We had to file chapter 7 to save our home ,close the business and write off the corps debt on our personal BK. Their we're no assets or property from the corp. If so we would have gone with chapter 13. My husband hasn't done any business since December 2002. In Jan 2003 I tried to disolve the corp. but received a letter from the Franchise Tax Board stating that we could not dislove untill 2003 minimun (800.00) taxes we're paid. Because I waited till 2003 (1 month) I have to pay Franchise Taxes for a whole year? Even tho the Corp. no longer exist. and was not doing business and never will again. The bottom line is.....with a Sub-Chapter S, can the Franchise Tax Board put a lien on my home or any personal property?

with a sub-Chapter S, can the Franchise Tax Board put a lien on my home? P.S. I'm planing on selling my home and move out of state within the next 6 months.

Asked on 5/07/04, 9:56 pm

Michael Olden Law Offices of Michael A. Olden

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Re: Owe Franchise Tax Board, can they put a lein on personal property?

yes, but it is more complicated than this

Answered on 5/08/04, 1:33 pm

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