If I want to start my own small business but have a restitution of $250K with the feds, can I register/incorporate and operate without them interfering?

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If I want to start my own small business but have a restitution of $250K with the feds, can I register/incorporate and operate without them interfering?

Asked on January 12, 2014 under Bankruptcy Law, Connecticut

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 7 years ago | Contributor

Having a restitution agreement and/or order will not prevent incorporation, registration, or operation, but may seek to recover the money from the company's profits and/or any amounts (such as salary or draw) paid to you by the company, just as they could seek to collect from a salary paid to you by a third party, or from other assets owned by you.


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