Business Level II Cases
Debtors who file a Chapter 13 case who are self-employed and make more than $10,000 per month, have employees, pay wages and/or own a business will be identified as a Business Level II case.
What does this mean?
If you are a business owner or a self employed individual, you will be required to do the following in addition to the regular requirements of a Chapter 13 Debtor:
File Operating Reports each month with the Trustee until your case is confirmed.
Attend a separate meeting of creditors with the Trustee’s Business Analyst.
Complete a Business Level II Questionnaire
Provide tax returns for all businesses for the past two years
Provide State Sales Tax Returns, if any, for the past four (4) reporting quarters
Appraisal District Valuations on all real and personal business property
Payroll Tax Returns (941), if any, for the past two (2) reporting quarters
Provide last 2 years Annual Balance Sheet and Profit and Loss, if any.
Provide last 12 monthly Profit and Loss Statements, if any
Financial Statement provided to any third party within the last 2 years, if any.
You will receive a notification from your attorney regarding this second meeting. If you have questions regarding these documents, please contact your attorney.
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