Post: #1

Hey guys, I know a lot of you run your own businesses and I know there's some smart guys on here so hoping maybe someone can shed some light and offer some advice.

I have a business which licensing is different in every state. It would literally cost hundreds of thousands of dollars to get all the licenses and bonds for every state so most in my industry get licensed in their home state and don't bother with the rest.

Well my home state has come after me and issued a cease and desist and now another state has sent a letter basically asking for more info to see if we need to be licensed in their state. It seems once one state gets you the rest jump on board and try to get money out of you.

My question is this. What happens if you get a fine more of more money thanthe business has? Are you personally liable or do they just take the money you got and the business goes under?

Also depending on how this works out is it to my advantage to take any and all money out of the business I don't need to operate so that should I get fines there's a limited amoutn of moeny they can get. This is an LLC so I believe personal income and property is generally shileded but not sure if its that just for lawsuits in civil court or the same for fines from gov.

Post: #2

Well then the business files for bankruptcy. But if the government decides you were personally negligent or otherwise avoided paying the fees via fraudulent means, then they will of course get your money one way or another. It's the government, that's what they do. You're never fully insulated, and a lawyer can pierce the LLC and get your personal assets, depending on any number of variables.

Regardless, you've already said too much by posting this thread. Get a lawyer ASAP and don't post anymore about this in a public forum! You will pay them $300-$700/hour but they will likely save your ass from losing your business/personal assets.