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Monies owed to me

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jchssr

Junior Member
What is the name of your state? Florida

I read in a recent posted message that you can't get money out of a corporation.

I am in a small claim court situation with a brother-in-law who I am 20% owner and he is 80% owner. The corporation owes me money and I have filed in small claims court, am I not going to get my money even though I can prove he owes me the money through the corporation? I paid taxes on this money last year - 2004.

Do I have chance with my tax return and the Schedule K-1 (IRS Form 1120S) showing the amount I paid taxes on and the percentage of the business I own?
 


dcatz

Senior Member
You apparently reached your conclusion by taking information out of context.

A recent post concerned a judgment against an individual and a desire to enforce it against her business. The judgment creditor was told that there could be a problem with that idea, if the business was a corporation,rather than a sole proprietorship.

The response was intended to indicate that the judgment debtor and a corporation would be two separate and distinct legal entities. If the business was a sole proprietorship - eg. Jane Doe doing business as Jane's Dresses - the debtor and the business are one and the same.

You can enforce a judgment against a corporation or an individual or a sole proprietorship, but your choice of the best means is likely to be different.
 

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