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 HOME   My company is incorporation if it files for banctrupsy am I personally responsible?
My company is incorporation if it files for banctrupsy am I personally responsible?
Published by: jack 2008-11-13
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  • If you are a C-corp and maintain separateness of monies and such things, then you would not be personally liable if your company goes belly up. However, if you co-mingle money between the corp and yourself and so on, then you have broken the veil of the corporation and could be held liable.

    In an S-corp, you could be held liable.


  • If you are a director (or the treasurer) you could be personally responsible for any taxes owed, regardless of bankruptcy outcome. An employee or shareholder would not generally be liable, unless also an officer or director.
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