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the corporation
shareholders are not responsible for the debts of the corporation.
If it is a sole proprietorship, then the estate will have to pay the debts. If it is a corporation, and the "owner" held all of the stock, then the corporation will have to pay all the debts.
The debts of the decedent must be paid by the estate. In fact, the debts must be paid before any assets can be distributed to the heirs.
indiviual stockholders
All of a corporation's assets may be sold to satisfy debts, but this may not be sufficient to pay all claims and liabilities when a business becomes insolvent.
their shareholders are responsible for the corporation's actions and debts Their shareholders are responsible for the corporation's actions and debts Their shareholders are responsible for the corporation's actions and debts kking kkilla Their shareholders are responsible for the corporation's actions and debts Their shareholders are responsible for the corporation's actions and debts Their shareholders are responsible for the corporation's actions and debts
the corporation
Of course. That's why a person becomes a guarantor -- to satisfy the corporation's debts if the corporation is unable to do so.
The corporation is responsible for the corporation's debt. Normally, there is a financial officer who pays the bills. If the corporation fails and goes bankrupt, people simply do not get paid. If the company is bankrupt and there is money, a judge appoints someone to pay according to a plan.
true
Any corporation can file for bankruptcy, whether or not it owes taxes. If the corporation is to be liquidated, any taxes it owes are the first priority to be paid, before the debts owed to others.
shareholders are not responsible for the debts of the corporation.
If it is a sole proprietorship, then the estate will have to pay the debts. If it is a corporation, and the "owner" held all of the stock, then the corporation will have to pay all the debts.
limited liability
The debts are paid from the estate.
expenses are understated