Legal Question in Business Law in Texas
Had a corporation in Texas, IRS had a lien against it. We sold and auctioned off all assets to pay them off, then dissolved the corporation. We still have outstanding bills, credit cards, phone book, etc. Are we still liable for these?
Asked on 7/07/10, 10:07 am
1 Answer from Attorneys
Kevin B. Murphy
Franchise Foundations, APC
Any attorney will say the corporation is liable for unpaid debts, absent any personal guarantees from you or others. Since the corporation is dissolved, the creditors have little recourse. Consult with an attorney in your area for specifics.
Kevin B. Murphy, B.S., M.B.A., J.D. - Mr. Franchise
Franchise Attorney
Answered on 7/07/10, 5:04 pm
Related Questions & Answers
-
What forms do i need to fill out to start a nonprofit organization Asked 6/29/10, 7:56 pm in United States Texas Business Law
-
I'm starting a business (s corp). I've been approached by an angel investor who may... Asked 6/28/10, 12:56 pm in United States Texas Business Law
-
I have a Motorcycle Club that I am the Founding Father and I have registered as a... Asked 6/28/10, 7:18 am in United States Texas Business Law
-
If you sign a legal contract such as for buying or leasing a car, can you back out... Asked 6/26/10, 5:48 pm in United States Texas Business Law
-
In late August I wish to start the process of getting a trademark along with LLC.... Asked 6/25/10, 8:42 pm in United States Texas Business Law