Bennington, NE asked in Tax Law and Business Law for Nebraska

Q: As a 100% shareholder in an S Corp in Nebraska I recieved a state tax lien notice. Is my personal property at risk?

Business was greatly affected by Covid and a chapter 7 filing by a customer. As a creditor the business, lost a significant amount of revenue. The tax lien notice does list the EIN for the S Corp, but only my name, is personally listed on the document. I need to know if any personal property, personal bank accounts etc are at risk from this lien. The business does not have funds or property for paying this. tax lien.

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1 Lawyer Answer
Julie Fowler
Julie Fowler
  • Omaha, NE
  • Licensed in Nebraska

A: Yes, it is possible to be personally liable, but it depends on the specific facts of your case. One method is through "piercing the corporate veil." The tax collector is generally an aggressive creditor. You should seek counsel.

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