Legal Question in Business Law in Virginia

Sub Chapter S taxes

Are all partners and officers of the corp liable for unpaid State and Fed taxes if the business has failed

Asked on 9/06/07, 6:40 am

2 Answers from Attorneys

Richard S. Stolker Uptown Law, LLC

Re: Sub Chapter S taxes

The income of an S Corporation is taxed to the individual owners, who are liable for taxes the same as any other individual income taxes.

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Answered on 9/06/07, 8:42 am

John Jackson Law Office of John A. Jackson, P.C.

Re: Sub Chapter S taxes

Partners are for sure. Officers maybe not it would depend on a number of elements. You may want to speak with an attorney about your particular situation.

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Answered on 9/06/07, 8:44 am

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