Legal Question in Business Law in Michigan
In an LLC can a partner be responsable for the other partners past outstanding debt/taxes?
Asked on 11/24/10, 9:44 am
1 Answer from Attorneys
Kevin B. Murphy
Franchise Foundations, APC
As a Franchise Attorney I can say such a case is highly improbable, unless the other partners agreed to it or the operating agreement specifies this (which would be highly unusual). That's why corporations and LLC's are used - to limit liability. Consult with a good business or franchise attorney in your area for specific advice.
Mr. Franchise - Kevin B. Murphy, B.S., M.B.A., J.D.
Franchise Foundations, a Professional Corporation
Answered on 11/29/10, 9:53 am
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