Legal Question in Business Law in Florida

I opened a business, got an EIN from IRS, then incorporated. This is an organization. I am no longer the president of this organization, Because the IRS has my soc. sec. number for the EIN, am I legally responsible for the corporation and it's affairs?


Asked on 7/29/10, 10:45 am

2 Answers from Attorneys
Richard Kaplan

You shouldn't be after you stepped down. But you may want to work with your CPA to give the IRS notice of this.

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Answered on 8/03/10, 10:55 am
Kevin B. Murphy Franchise Foundations, APC

The other attorney is on point here. You need to make sure the IRS taxpayer ID and EIN in the tax returns is changed. Keeping the EIN under your personal social security number can be very risky. Someone at the corporation should reapply for a new EIN as soon as possible. Consult with a good business attorney in your area for specific advice.

Kevin B. Murphy, B.S., M.B.A., J.D. - Mr. Franchise

Franchise Attorney

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Answered on 8/03/10, 11:29 am


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