Q: i have a business thats incorperated. unfortunatly i was fined by the dca for alot of money.
if i close up shop will the state sue me for the money i owe?
I went to a hearing with the judge. Does that make a difference?
A: It's doubtful, but probably would take about 1 or 2 hours to find out definitively. I say it's doubtful because NYC is basically a municipal corporation, they have limited special powers granted by the State which is the organization that regulates businesses and corporations under the Business and Corporation Law (BCL) statute. Under various provisions of the BCL and under the common law (judge rulings that make up a body of law) there are only a limited number of circumstances in which a "corporate veil" which shields individual shareholders / members / owners from liability can be "pierced." So the DCA, a division of the municipal entity, would have to sue and successfully pierce your businesses corporate veil. Hope this answer helps! Email me at bjanay@lobej.com if you have any follow up questions.
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