Can I still be penalized for not having business license for a terminated business?
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Can I still be penalized for not having business license for a terminated business?
I received bad advice from online legal service company and did not obtain required city license for my super small home based LLC business. I have since terminated the business due to failure of business. I am starting over, can I still be penalized?
Asked on July 31, 2019 under Business Law, Georgia
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 5 years ago | Contributor
They could fine the LLC, not you, for its violations during the time it was in violation (which is not to say that they noticed the violation or will fine--just that they could). They cannot fine you personally for your LLC's violation or fine a new LLC, so if the old LLC has been shut down and has no assets, there is nothing to worry about.
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