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?
Answer
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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