Legal Question in Business Law in Michigan
I sold my shares of an S-corporation in March, 2010 because the business was failing and I had been working for over a year with little or no compensation. In my original paperwork the company was to pay me for the taxes I paid for business profits that I had to claim on my personal tax return. (K-1) This was never done for the 7 years I was a partner in the business. Now that I am no longer a partner do I have any legal recourse for getting any of that money back from the business? Can I sue the partner that I sold my shares to, or do I have to sue the business. The amount would probably be about $2,000.00. Thanks.
Asked on 1/25/11, 9:56 am
1 Answer from Attorneys
JASSI SACHDEV
LAW OFFICES OF JASSI S. SACHDEV, P.C.
Do you have something in writing? WHo did you make the agreement with - other shareholders or the corporation?
Answered on 1/27/11, 1:58 pm
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