News

In the Winter 2012 issue of The Franchise Handbook, Bennett Thrasher Shareholder Peter Stathopoulos and Supervisor Chiquita Banks co-authored the article ‘State Tax Issues Franchisees Often Ignore.’ The article stresses the importance of not ignoring or deferring state and local tax filing obligations since state departments of revenue have the ability to “pierce the corporate veil” and make franchise owners personally liable for certain tax liabilities of a franchise.  Peter and Chiquita discuss the complexity of different state and local tax obligations that can create significant pitfalls for business owners, such as state sales and use tax, sales tax for restaurants, responsible person liability, successor liability, property tax and income tax.

For more information about this article, please see the online version of the magazine at http://franchisehandbook.com/digital/2011/Winter/Winter%202011/.