2nd Circuit Makes LLC Less Attractive
The 2nd Circuit Court of Appeals in McNamee v. IRS, No. 05-6151 just affirmed a federal trial court’s determination that the owner of an LLC (limited liability company) can be held personally liable for unpaid payroll taxes. This is a significant decision, which may well be appealed to the Supreme Court.
Go read the entire piece, especially if you are an owner of an LLC or want to start one. Your choices WILL affect your protections.
