-------- Original Message --------
Subject: Re: [NF]: Pennsylvania Sales Tax
From: Ed Leafe <[email protected]>
To: [email protected]
Date: 3/7/2014 3:44 PM
On Mar 7, 2014, at 3:26 PM, Mike Copeland <[email protected]> wrote:
In addition liability is limited to
the corporation and it's harder to go after your personal assets.
Bingo! That's the number 1 best reason in my opinion. Too many litigious idiots
out there to risk it.
Well... it depends.
They can still sue you personally, and you have to show that you have fulfilled
every requirement for being a corporation. Didn't have an annual meeting and
file the minutes publicly? Forgot to draw up bylaws? Didn't abide by those
bylaws if you did?
Any sleazy lawyer will force you to document every single step before a judge
will dismiss the case. If you don't satisfy every requirement, your corporation
may be deemed to be a phony shell, and all those protections about personal
liability disappear.
-- Ed Leafe
True that, Ed...if you start playing the game, you have to follow the rules
Mike
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