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Category: Business Law
Satisfied Customers: 4633
Experience:  23 Years business & securities law, NY and FL bars. SEC all states.
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We had a masonry business that closed due to lack of work/economy.

Customer Question

We had a masonry business that closed due to lack of work/economy. We settled an Offer in Compromise with the IRS and just recently finished paying that assessment (they found us personally liable for $32,000 of the coporations trust fund taxes and settled for $3,000). I now have an attorney representing the Attorney General's office stating they are going to pursue my husband and I personally for the state of Ohio withholding tax (this is approximately $7,000.00). He has mentioned on his messages of doing a personal assessment and placing a lien on our home. We have not yet spoken with the attorney directly but need to within the next week. The business has no assests and has not operated for nearly 2 yrs.What all can the state of Ohio do to us personally in order to collect the Corporation's employee witholding taxes? Does the state of Ohio do a formal"assessment" like the IRS in order to find us personally libable?What are our options or the best course of action in this situation?
Submitted: 6 years ago.
Category: Business Law
Expert:  FLCORPLAWYER replied 6 years ago.
The officers of the Corporation, especially the President and Treasurer, are personally liable for federal and state withholding taxes. That is because this money was collected by the corporation on behalf of the taxing authorities. I think you got a great deal from the IRS. The state can attach your personal assets to the extent you owe the taxes. This may include wage garnishment, filing a tax lien against you personally, and the like.

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