Legal Question in Business Law in New Jersey

Am I personally responsible for unpaid tax for a dormant corporation

I started a consulting corporation in 1992, did business for two years, then let it lapse after I resumed regular employment. I did not file anything after 1996. Am I personally responsible for the unpaid minimum corporate tax? Am I responsible for all taxes to the present, or should the corporate charter been cancelled automatically, say after two years? I was hoping to resume consulting, so when I checked about the corporate status, the Dept of Taxation advised me to pay all those taxes right away, which I did by personal check. When I learned that my client cancelled my assignment, I stopped payment on the check. Am I subject to penalties, even though I received no value for it?


Asked on 8/30/02, 8:23 am

1 Answer from Attorneys
Walter LeVine Walter D. LeVine, Esq.

Re: Am I personally responsible for unpaid tax for a dormant corporation

The charter has been revoked. You may be able to check this on-line at the NJ commercial recording website. You could be liable for both unpaid franchise taxes (although not a personal liability) and unpaid annual report fees (has personal liability). Annual report fees can be charged to date charter was revoked. If by now you have received no mail, you may be safe from these claims - which are usually asserted about 2-3 years after last return was filed.

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Answered on 9/03/02, 10:44 am


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