Legal Question in Business Law in New Jersey

husbands business taxes

My husband owes business taxes to the State of NJ and is being sued by quite a few other businesses. His business failed and he just closed the doors. Today I intercepted a letter in the mail from the State of NJ about TAX AMNESTY PROGRAM...my name along with my husband�s in on the letter. Please tell me his business dealings have not ruined my credit.


Asked on 5/20/09, 3:36 pm

3 Answers from Attorneys
Jef Henninger, Esq Law Offices of Jef Henninger, Esq.

Re: husbands business taxes

Just as a side note, I suggest he see a criminal defense attorney.

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Answered on 5/20/09, 3:48 pm
Randall Brett Law Office of Randall P. Brett

Re: husbands business taxes

You may be jointly responsible for the business debts - including taxes - along with your husband. If that is the case, your personal credit rating would be at risk. You should consult an attorney to discuss the matter and determine your personal exposure.

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Answered on 5/20/09, 4:38 pm
Ronald Cappuccio Ronald J. Cappuccio, J.D., LL.M.(Tax)

Re: husbands business taxes

First, the Amnesty letter may be for personal 1040 taxes rather than business taxes. Since most small businesses are Limited Liability Companies, the income and expenses are reported on a Schedule C in the 1040. If you signed the return, you are jointly and severally liable. That means you might have to pay all of the tax.

Also, note, there may be US Income Taxes due.

If the taxes are employment taxes or sales and use taxes, the State my try to stick you with the bill if you were a check-signer or prepared returns.

You need to IMMEDIATELY retain an experienced tax attorney to help you sort this out.

I hope this helps!

Ron Cappuccio

http://www.TaxEsq.com

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Answered on 5/20/09, 8:09 pm


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