Is it legal to sell a corporation with back taxes due to IRS and VA state making the new owner legally liable for the debt as part of the payment agreement for the business giving the new ower the debt so it can not come back on you if the new owner defects in payments?
Asked on 10/22/09, 12:50 am
1 Answer from Attorneys
Michael Hendrickson
Law Office Michael E. Hendrickson
As long as the tax liability lies with the corporation and not with any of its officers or other individuals, it should be legally permissible (in my opinion).
Answered on 10/27/09, 9:58 am
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