C
CherylN
Guest
We sold a business in Oregon in 2000. We had a "management agreement" with option to purchase for X amount of $$. Option was not exercised. My husband informed the purchaser in May that he would sell business to another party because option was not exercised. Person said she would sue, but would instead purchase the business for a less amount of dollars and agreement would continue in place. At the time of sale, purchaser said she would purchase at another price. Unfortunately, we agreed (dumb on our part).
Upon examination of our books, I noticed that purchaser has not paid all of federal/state withholding taxes on employee of business. She has paid some, but not all. I informed her of her need to pay these taxes. She said there was no agreement since May and she would not pay taxes. However, she did take out $20,000 in the business account.
Suggestions??
Thank you.
Upon examination of our books, I noticed that purchaser has not paid all of federal/state withholding taxes on employee of business. She has paid some, but not all. I informed her of her need to pay these taxes. She said there was no agreement since May and she would not pay taxes. However, she did take out $20,000 in the business account.
Suggestions??
Thank you.