Can I file Chapter 7 for an S Corporation that owes taxes?

October 8, 2004

Date:  Sun, 26 Sep 2004
From:  Kelli

Can I file Chapter 7 for an S corporation that has no assets and no money, but owes 2004 (California) minimum tax of $800 plus penalties?


Date:  Fri, 08 Oct 2004

Hello Kelli,

I'm not a bankruptcy attorney.

It seems to me it would cost less to pay the tax and terminate the corporation before the end of this year to stop the expense.

Good luck!
Mike Gray

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