What is the name of your state (only U.S. law)? VA
My father has a business with a successful product line and several large outstanding orders. However, due to overwhelming personal debt, my father is currently unable to open a bank account without it being seized, and thus is unable to receive payments for these orders. What he has asked me to do is open up a separate business, in my name, which would act as a "distributorship" for his products, to receive the payments. It is his belief that this is legal so long as the income is reported. Would like to get another perspective on this, hopefully.
My father has a business with a successful product line and several large outstanding orders. However, due to overwhelming personal debt, my father is currently unable to open a bank account without it being seized, and thus is unable to receive payments for these orders. What he has asked me to do is open up a separate business, in my name, which would act as a "distributorship" for his products, to receive the payments. It is his belief that this is legal so long as the income is reported. Would like to get another perspective on this, hopefully.
