More Al Franken business woes
Last week, it was violations of workers’ comp and disability laws.
This week, Stuart Smalley’s in hot water over a “forfeited” California corporation.
Just imagine how well he would do in the Senate with your money!
Posted in: Al Franken
See what others have said
Note from Michelle: This section is for comments from michellemalkin.com's community of registered readers. Please don't assume that I agree with or endorse any particular comment just because I let it stand. A reminder: Anyone who fails to comply with my terms of use may lose his or her posting privilege.
Trackbacks
Comments
You must be logged in to post a comment.
Categories: Al Franken
Right Pundits
» Joe Lieberman: Fort Hood Shooter Is ‘Home-Grown Terrorist’Legal Insurrection
» Bruni de la Motte for Health Care CzarRiehl World View
» Obama: No Military Death Shall Go UnexploitedLegal Insurrection
» In The End: No Public Option, No Abortions, No Pelosi, No ReidThe Other McCain
» Paralysis by analysisThe Powers That Be
» Obama: ‘Don’t Jump to Conclusions’ About Ft. Hood; Immediately Jumps to ConclusionsLegal Insurrection
» NY Times Names Names
Couldn’t have happened to a nicer guy.
That was my first thought when I saw this come up before I check the thread and read it.
My second thought? He will get elected.
Nicely put and I really feel sorry for the good folks of Minnesota and the rest of us if Al Franken ends up as their Senator contributing to the poor fiscal policy of the elitist upper house of runaway pork barrel spending.
Well, lets see. Failed comic,failed radio host,failed corporate head. I don’t know, sounds about right for todays congress. Can’t do anything else, go work for the People……….
Sounds like Al needs an accountant (and a lawyer).
Heh looks like I’m going to have fun this election cycle here in MN, in a small(ey) way, of course.
Because I’m smart enough, because I’m pretty enough and gosh darnit…people like me… So I shall run for office…
Doggone it he just doesn’t like the rules…idiot.
I can’t get upset about him because he still makes me think of ice cream. When his bit with Davis came on Saturday Night Live, I went to the freezer. Al Franken, no comedian but a Good Humor Man nevertheless.
Someone did a documentary on him. Will this be bonus footage for the DVD?
My take:
First, this not a forfeited California Corp. This is a NY corp that is registered to do business in California.
Second, I am guessing that he failed to pay his 2007 minimum franchise tax, which I believe is something like $800 a year in California.
He may have done it on purpose, if he really isn’t doing anything in California anymore. Often, when a corp., or in this case a foreign corp. registration, has outlived its usefulness, rather than go through the formal process which can be time consuming and annoying, the client chooses to just let some statutory requirement lapse (often an annual report with the secretary of state). They will get a notice saying that if such and such isn’t done in x days, the corp. will be revoked, which they just ignore.
Its not necessarily how one SHOULD go about getting rid of an entity they don’t need, but it is relatively common.
And if someone didn’t want their entity revoked, and just messed up, there is usually relatively easy fix which retroactively “unrevokes” the entity. Believe me, it happens ALL THE TIME.
In summation, I really don’t know what the circumstances are, but I think this probably sounds a lot worse to people that aren’t lawyers than it really is.
Please note that nothing contained herein is should be construed as offering legal advice.
I agree, they’ll probably elect him because he says what the moonbats want to hear. It doesn’t matter who he really is or what he really does.
#9 On April 16th, 2008 at 3:31 pm, mymanpotsandpans said:
“I can’t get upset about him because he still makes me think of ice cream. When his bit with Davis came on Saturday Night Live, I went to the freezer. Al Franken, no comedian but a Good Humor Man nevertheless.”
Exactly.
I also remember “Franken & Davis” on SNL.
So lame…so not funny.
You’re absolutely right – the “Franken & Davis” spots were nothing more than a bonus commercial break.
Someone did a documentary on him. Will this be bonus footage for the DVD?
Violations of workers’ comp and disability laws??? Typical lib…
Let them eat cake, just not MY cake.
Looks like there’s more information coming out about this (StarTribune link).
Looks like your guess is correct, however it also appears that California states that you have dissolve first.
So, it could have been bad advice from his accountant, but in light of the workers’ comp issues, it’s certainly not helping him.
Would he be as willing to forgive other corporations for not “following the rules”? Merely speculation, of course, but somehow I doubt it.
chapoutier’s comment (#10) is dead on. In fact, the easiest way to withdraw from California is to allow the rights to be forfeited. Otherwise, it’s nearly a year long process that rarely results in a withdraw without needing to submit additional info. It rarely equates to a conclusion that tax liabilites were not paid.
I don’t know why, but that just struck me as really funny.
Almost as good as my 13-month-old does when he feeds himself.
Believe me, everything sounds worse to people who aren’t lawyers…
But I tend to agree – I know people who set up a new LLC for everything they do and let them lapse when the project is done. Not that I would let Al handle any of my money.
Well…in ANY state you are supposed to dissolve first. But a lot of times the enforcement isn’t there and even if the tax man does try to collect, who can they collect against? A defunct corporation? Maybe they can try to go after the principal of the company, but then it is probably more trouble than its worth for such a relatively small amount of money.
I see chappy made it through chapter 3 in his “Attorneys for Dummies” reading requirement.
No, no, “Attorneys for Dummies” is aimed at people who kill their spouses when they actually only wanted a divorce.
Which is why we’re here, Aloha…
To be the calming voice of reason amongst the din of modern society. Like the soothing sound of waves lapping gently on a sandy beach.
Having previously owned a California Corporation, yes, the minimum amount you have to pay is $800 a year (just to exist). However, if you want to stop doing business as a CA corporation, you do have to officially dissolve it. Upon officially doing this, you no longer do business in CA as a corporation, nor do you pay the minimum franchise tax of $800. However, this dissolution must be recognized by the state. You don’t just ignore it and it goes away.
Trust me, CA wants their money…and unless you tell them otherwise, they’ll want to keep collecting the money.
I presume dude will not face serious opposition in the donk primary?
Is norm polling so badly that dude has a chance in the general?!
I think I am getting seasick.
I think Al should play The Joker in the next Batman movie. Think about it.
He’s got the morals.
He’s got the gall.
And gosh darn it, he’s got the looks!
The above story should really agitate the goons over at the AFL-CIO’s Executive PayWatch project, especially whoever wrote the following:
I sure hope the disclosures above don’t cost Al any union endorsements.
Has Stuart Smalley been doing business in California since his company has “forfeited”? If so, what are the consequences?
These “do as I say” liberals are really something.
Usually not much, so long as you get back in good standing. Any contracts you enter are still enforcable, etc…
Where this forfeiture or revocation really starts to hurt is when the company tries to get a bank loan or enters some other major transaction (like a real estate sale) where the other side has enough saavy to check. They will demand you get it reinstated before proceeding.
I suppose that if a company was sued while its status was revoked, it could open the owner up to personal liability under a “piercing of the corporate veil” theory, as well.
aj…
I think Attorneys for Dummies would be a book for people to learn about attorneys.
You are thinking of “The Law for Dummies” or alternatively “How to Charge $300 an Hour Without Really Trying” is a great resource. I am on Chapter 12: Advance Billable Padding Techniques.
Sort of like this?
Is that available at Amazon.com? I’d like to send a copy to my ex-wife’s attorney.
And he thinks Rush Limbaugh is a big fat idiot? Har!!!
yeah chaps, I was caught up in the moment, but i did like your sandy beaches…. lmao
but you knew what i meant…. being a lawyer and all.
Let’s not forget that he can say and do anything without responsibility or consequence because he is a comedian.
I’m a paralegal in California that does business wind ups and according to legal research tools (I have better toys than most), Franken has a state tax lien for:
DEBTOR INFORMATION
Debtor: FRANKEN, ALAN
15 E 26TH ST APT 1803
NEW YORK, NY 10010
Debtor Type: INDIVIDUAL
CREDITOR INFORMATION
Creditor: STATE OF CA
LIEN INFORMATION
Total Amount: $29,519.00
his corporation was forfeited for:
08/01/2007 FRANCHISE TAX BOARD FORFEITURE.
This means his corporation was forfeited for not paying taxes or not filing tax returns (which is worse on the Franken because it means he did NOT abide by the law).
To dissolve a corporation is California is a real headache – you have to get the state franchise tax board to sign off first, which means filing all due returns and paying the $800 minimum tax for all years including the year the corporation is to be dissolved.
P.S. the state tax lien was filed on 10/1999 and I don’t see a notation that it was satisfied.
All the naysyers are playing the fool – in California you just can’t let the corporation lapse, by law you must file a tax return for every year until the corporation is dissolved (with the $800 minimum tax accuring). The Secretary of State will not dissolve the corporation until ALL of the taxes are paid. But this dufus has a $29K tax lien so he won’t be dissolving until ALL the taxes, internet and penalties are paid.
The bottom line is Al Franken wants to make a lot of money and one surefire way is to be elected to Congress as a Democrat. You get a good chunk o’ change while “serving”, a great pension once “retired”, and the chance to go into the private sector via contacts made while in Congress and VOILA…big bucks.
I’m sorry but I wasn’t clear above. It seems that Franken had a state tax lien which was released in January of 2000.
His corporation was incorporated in California in 1998. It seems that Mr. Franken did not see it necessary to file income tax returns from 2003 to 2007 – thus his corporation was forfeited.
How a person wants to run for Senator after having a state tax lien against him and currently having a forfeited corporation which is delinquent on his taxes is beyond me. He must have really big huevos.
Absolutely. Just ask Michael Richards!
The answer to that is here in The Peoples Republic of Minnesota:
This place has gone full throttle Socialist. Besides, he’s a clown and we’ll be sending him to the National Circus. He’ll fit right in.
Would Al Franken do us all a favor and go back under his rock? Nobody listens to his Airhead America network, nobody cares about his books. Just go away!
But Dog-gone it, he’s not good enough and he’s not smart enough and nobody likes him. That’s why they call him Stewart Smalley!