wage garnishment and s corp?

[jtkz]

When my s corp recieves payment for services I deposit the funds into my corp checking account ( I have not filed for personal BK yet and cannot for a year or so) I use the money for operating expences. What is left over I pay myself through a payroll service (paychex) The amount that i pay myself is less than the threshold for garnishment in my state, MN . 40 hours x min wage. So that income should be safe. My question ,is my s corp checking account safe from seisure if the CC companies can get a judgment against me personally. My s corp has no debt or hard assets as it was only established 1/1/10. Thanks

[frogger]

My question ,is my s corp checking account safe from seisure if the CC companies can get a judgment against me personally.

It should be safe against a personal judgment.

[catleg]

An S corp is a separate legal entity for purposes other than taxation. So they'd have to pierce the corporate veil to enforce judgment against your S corp. An aggressive creditor might try it, but it would cost them extra with no guarantee of success.