So I’m kind of freaking out and I don’t know what to do. I think I could be screwed.
I registered a business I was trying to start as a C-Corp in Delaware in 2016. This “corporation” has never made any revenue and has no money in its bank account. I’m the only person that has been on its board and owns 100%. (I know, looking back, I should have run this business as a sole proprietorship or an LLC. Lesson learned.)
I paid the minimum franchise tax ($175) and filed my $0 revenue in 2016 and 2017. However, at this point, since I still had made no money, I decided to quit trying to make this business work.
Because of this, I forgot to file corporate taxes in 2018. Nothing came of it, I never heard from them. Then like an idiot I also didn’t file in 2019. I kept on putting off closing the business.
Two days ago, I got a notice from my lawyer that Delaware Secretary of State had sent me a tax notice that said I owe $121K. If I don’t pay it in full by June 1 I will get additional interest added to it and owe $123K.
I knew that I would have to pay a penalty of $200, since this was the fine from not filing on March 1, along with a minimum franchise tax of $175.
How did $375 turn into $123K? The corporation has $0 in its bank account. Can Delaware expect me to pay when the corporation has no money? Can they take money from my personal bank account? Who should I talk to to get this figured out?
My “lawyer” is this firm called Rocket Lawyer, I get assigned to a different intern every time I contact them. I just used them to pay my franchise tax bill and get my incorporation paperwork drawn up. I don’t have the money to hire an actual lawyer.
Would appreciate advice/ help.
Written By: Duac
Source: http://bit.ly/2va7re1
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