Is it legal for a company to pay business and personal taxes?
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Is it legal for a company to pay business and personal taxes?
I am buying a company and I will be making payments over a couple of years unless
I can pay it off sooner. In the contract the seller says the company must pay all
personal and business taxes. So paying them a weekly amount plus 10 of my snow
contracts for 3 years and paying all the taxes it will take me broke. This is a
very small company. We have about 45 customers and we cut grass. prices range
from 35.00 to 220.00, most being about an average of 50.00. She is also getting a
check from another company and has a disabled daughter so she get social
security. Please advise
Asked on January 10, 2018 under Business Law, Maryland
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 6 years ago | Contributor
It is legal IF you agree to it--anyone (and any company) may agree to make tax payments on behalf of another. If you find that the deal does not make sense for you, either negotiate a better one or walk away from the deal.
Note that if you have not signed a non-competition or non-solicitation agreement, you could go out and start your own grass-cutting business.
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