Boss closing company how do i get my profit sharing?
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Boss closing company how do i get my profit sharing?
Boss closing company in 3 days how do I get my profit sharing? off due to accident at work. was just notified today of closing of company. Can’t find a work comp attorney they tell me no money in it fir them because i’m in Kansas Help please
Asked on December 28, 2016 under Employment Labor Law, Kansas
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 7 years ago | Contributor
If the company was a sole proprietorship, if you had a written agreement giving you profit sharing, the owner (who presumably was the one signing or executing the profit-sharing agreement) should remain personally liable or responsible for your money: if you are not paid, you could sue him for the money, based on the agreement.
If the company was an LLC or corporation, however, only the LLC or corporation, not the owner(s) personally, is liable. That means that if the company still exists (is not dissolved) but has no money, while you can technically sue, you won't get anything. And if the company is dissovled, you can't even sue--there will be nothing and no one to sue.
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