Legal Question in Tax Law in Virginia

we own a s-corporation and just found out we owe the state of virginia personal taxes from 2006. Can they legally take the monies from the corporation bank account


Asked on 8/08/09, 8:32 am

1 Answer from Attorneys
Michael Hendrickson Law Office Michael E. Hendrickson

Yes, since the income from an S-corp flows directly to the corporate shareholders, the state can seize funds in this kind of corporate account for any tax liabilities owed by these individual shareholders (in my opinion).

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Answered on 8/15/09, 3:37 pm


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