If I’ve been offered a partnership in an LLC. but owe personally back taxes to both the federal and state, can the LLC be liable for them?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
If I’ve been offered a partnership in an LLC. but owe personally back taxes to both the federal and state, can the LLC be liable for them?
Asked on March 14, 2015 under Business Law, California
Answers:
Anne Brady / Law Office of Anne Brady
Answered 9 years ago | Contributor
I think you mean membership in an LLC. And the Answer is no. Just because you become a member of an LLC does not make the LLC liable for your personal debts. The idea of forming an LLC is to limit the liability of the company to the company, protecting the members from personal liability for the company's debts, not to make the company liable for the debts of its members.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.