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DBA responsibilities

by tomknapp, Window Shopper

  • Created: March 24, 2009, 10:09 am
  • Updated: January 31, 2011, 3:52 pm
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If a corporation is out of business. Is the DBA of said company responsible for debts of that company. The company has zero funds and assets. Am I, the former DBA personally responsible for any late taxes due? Tom

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BizResearcher | Window Shopper | 2/15/2011 - 12:14 pm

You need to talk with an attorney. Generally, if you had a legal corporation that was dissolved, the debts of the corporation are theirs unless you personally signed for them. When the corporation was dissolved a final tax return should have been filed. However, if you had only a DBA, then you actually formed a sole proprietorship, not a coporation, and you are personally liable for the debts. An attorney can advise you on your responsibilities.