Legal Question in Business Law in Florida

A judgement was entered against my S Corp yesterday. Will they levy my corporate account? Is there a way to protect that account?

Asked on 8/05/10, 5:25 am

1 Answer from Attorneys

0 users found helpful
0 attorneys agreed

Unless there is some other asset to go after I would levy against the corporate account.

No, it probably is too late to do anything about that account. If you move it in a manner not consistent with the corporation, it could be deemed a fraudlent conveyance. This does not mean you can't use it to buy normal supplies, equipment and salaries. But if it goes outside of the expected aspects of the corporation you could have problems.

Read more
8/10/10, 5:48 am

Related Questions & Answers

More Business Law questions and answers in Florida

Looking for something else?

Get Free Legal Advice

88333 active attorneys ready to answer your legal questions today.

Business Law Legal Forms

Browse and download our attorney-prepared and up-to-date legal forms from $4.99

Find a Legal Form

Featured Attorneys

Anthony RoachLaw Office of Anthony A. RoachChatsworth, CA
Timothy McCormickLibris Solutions - Dispute Resolution ServicesSan Francisco, CA
Michael E. HendricksonAttorney & Counsellor at LawAlexandria,
Find An Attorney

Are you an Attorney?

Earn additional revenue and grow your business. Join LawGuru Now