Ed Driscoll

Piercing The Corporate Veil

Over on my wife’s Bizlawblog, some potentially significant business news:

The 2nd Circuit Court of Appeals in McNamee v. IRS, No. 05-6151 just affirmed a federal trial courts 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. But meanwhile, let’s look at its significance.

Read the rest.