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ANDREA, Attorney
Category: Business Law
Satisfied Customers: 12554
Experience:  25 yrs exp Real Estate & Business Transactions, Post Doctoral Degree, LLM, Taxation
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If a limited liability corporation in Texas has an overdue

Resolved Question:

If a limited liability corporation in Texas has an overdue franchise tax balance, is the state allowed to collect from an individual owner?
Submitted: 5 years ago.
Category: Business Law
Expert:  ANDREA replied 5 years ago.


Hi, and Welcome to JustAnswer. Thank you for your question.

My name isXXXXX am a licensed, practicing Attorney and would be glad to help

Although the shareholders in an LLC are immune from liability for lawsuits brought by other parties against the LLC and they enjoy other immunities because of the type of business entity they formed to conduct their business, they are liable for any type of State and Federal tax, and in this case, they would be liable for the State Franchise Tax,

I wish I could give you the answer you were hoping for and it would have given me great pleasure to do so, but I have an ethical obligation to give correct Answers, so please try not to hold Texas law applicable to your situation against me,



Please be kind enough to press "Accept" so that I receive credit for assisting you.

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Thank you for allowing me the opportunity to assist you,

Kindest Regards, XXXXX XXXXX Wishes for happiness and good health throughout 2012,

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