S-Corp bankruptcy

[the anchorage]

What is the name of your state? NJ

Have an S-Corp that has failed. No chance in recouping. Will that affect me and my spouse personally? This is my business only. Spouse not tied to it in any way. There are no personal guarantors in this corp. The mortgage on our personal home does not even have my name tied to it. It is in my spouse's name only.

 

[tranquility]

Anytime a business fails there is risk, but unless there are some trust fund tax liabilities sitting out there it looks like you are probably going to be OK.

 

[the anchorage]

Thank you. No tax liabilities.