Legal Question in Business Law in Utah
Franchise & Entity tax
We are a small company, 2 employees, 2 Managing members. The previous MM never paid any Franchise or Entity taxes for the different states he registered in but never conducted business in. Can the new MM publish a notice is the paper saying they are not responsible for the previous MM's debt? A Managing member is the same as an owner or President.
Asked on 4/14/09, 4:38 pm
1 Answer from Attorneys
Alvin Lundgren
Alvin R. Lundgren, L.C.
Re: Franchise & Entity tax
The LLC is responsible for its debts, not the managers or members. You cannot disclaim the actions of a former manager.
Answered on 4/14/09, 4:51 pm
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