Explanation
Maintaining the veil requires keeping business and personal finances strictly separate — separate bank accounts, proper documentation, EIN-based credit, and adherence to corporate formalities.
Commingling funds, ignoring entity formalities, or under-capitalizing the business can let creditors 'pierce the veil' and pursue personal assets.
Examples
- •Separate business bank account
- •Separate business credit cards
- •Business operations under the legal entity name
- •Annual filings and minutes
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