In the early 90's I formed a corporation (In Delaware but live in Pennsylvania) which consisted of myself only, as the CEO. The business failed, but I never dissolved it. I just received a letter from the Penn Credit Corporation which is a collection agency. They want to collect almost $7,000 from me. I called the PA Department of Revenue, and they said that back in 1994 that they attempted to contact me about a jeopardy settlement or some such. They said the amount was $5,700, not $7,000, and that there was nothing they could do with the case. So, I called Penn Credit and asked how we got from $5,700 on Dec. 1 to $7,000 12 days later. I was told that this was an additional penalty added for the delinquency being referred to a collection agency. Anyway, my question is, as an individual, am I responsible for paying this tax? I thought one of the advantages of a corporation was to insulate the individual from the company? I would prefer to dissolve the corporation and not have to pay this "penalty".
-Thanks
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