Legal Question in Bankruptcy in Virginia

If a LLC business is to bankrupt can you also bankrupt the taxes?

Asked on 9/11/10, 5:34 am

1 Answer from Attorneys

Daniel Press Chung & Press, P.C.

An LLC cannot get a discharge in Chapter 7. In Chapter 11, if you reorganize, it may be possible to discharge some taxes, but it depends on the type of taxes and when they were due.

Read more
Answered on 9/25/10, 5:50 am

Related Questions & Answers

More Bankruptcy Law questions and answers in Virginia