Several years ago I invested in a coffee shop, incorporated as an S-corp. I know now much more than I knew then.
I, along with a friend, purchased a certain amount of shares. We never received any tax paperwork (k-1), we also have received minimal communications, and in late 2015 I started to do some research.
I found that not only was the company “entity” suspended per the Secretary of State, but also in default with the State tax board, both for non-payments of payroll tax, business filings, etc.
I have heard nothing from them and have solicited a response in email form and text form (both of which are considered valid methods of communication, per the agreement).
In my State we have a “Victims of Corporate Fraud” Disbursement Fund.
Any thoughts or advice, including to let it go?
Have you thought of retaining a business attorney for help on this?
Have you filed a claim with your State’s disbursement fund?
Managing Editor, Fit Small Business
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