Small business,such as local business,personal finance,credit and real estate.
I am 20% owner of a business because they needed some else to go into it with them.?
11Apr2008 Filed under: CorporationsQuestion:
So now they are not paying taxes and checks are bouncing. Most of the calls we get are for the 80% owner but I need to know how liable I will be and how do I go about taking my name off. Is it easily done?
Answer:
If you are a "passive investor", not involved in the operation, and not an officer, you will probably lose your investment. That's all.
If you are an officer in a Corp., you can resign.
That may not absolve you of any wrong doing, since it is already occurring.
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