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Category: Business Law
Satisfied Customers: 1741
Experience:  20 years experience in business law - sole proprietor, partnership, and corporations
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Steps for acquring a company/ownership stock of an INC.

Customer Question

Hi, This is Himanshu from NY state working as an Engineer in a manufacturing unit as a H1B. Recently, I came across a soon to be closed in production-manufacturing grinding wheel unit having good potential to grow and develop a good business in that area. I am really interested to pursue this business. It is in Jackson area of WI. 1. If the present owners sell their company stockholding(80%) to me (INC. in Wisconsin state), the name of the brand/company name/products/process name is XXXXX XXXXX the same. Evrything remains same accpet the ownership stucture: myself (80%), present owners (20%). So is that something possible as per law? Will I have to change the EIN #? What are the steps for such sale/agreement? Company stock sale is through a mutual agreement that I will be renting/leasing all the physical assets for a monthly installment price 2. Does my new transfer H1B (which I will get immediately with the present EIN#) has to be renewed due to change in EIN#?
Submitted: 4 years ago.
Category: Business Law
Expert:  INFOLAWYER replied 4 years ago.
Hello and thank you for your question.What do you want to accomplish?
Customer: replied 4 years ago.

1. I wish to know -- how the ownership in the present INC. (WI state) can be changed through company/ownership stock sale agreement between me and the present owners? What are the steps involved in transfering or sale of stock?

Note: I want to keep the name of the company, brand, tradename, products etc (intellectual properties) same. (new structure -- myself 80%: present owners 20%)

 

 

2. By this agreement -- Does the EIN#/ or any other tax # XXXXX XXXXX or I have to reapply for EIN#. if yes, then do I have to file a new H1B paperwork for myself, in order to work.

Note: I will be filing H1B transfer (present EIN#) before the agreeement is signed, so that while signing the agreement, have my H1B approved. So if the EIN# XXXXX after the agreement-- Do I have to again reapply for H1B?

Expert:  INFOLAWYER replied 4 years ago.
I am going to open this to my colleagues to respond.
Customer: replied 4 years ago.

1. I wish to know -- how the ownership in the present INC. (WI state) can be changed through company/ownership stock sale agreement between me and the present owners? What are the steps involved in transfering or sale of stock?

Note: I want to keep the name of the company, brand, tradename, products etc (intellectual properties) same. (new structure -- myself 80%: present owners 20%)

 

 

2. By this agreement -- Does the EIN#/ or any other tax # XXXXX XXXXX or I have to reapply for EIN#. if yes, then do I have to file a new H1B paperwork for myself, in order to work.

Note: I will be filing H1B transfer (present EIN#) before the agreeement is signed, so that while signing the agreement, have my H1B approved. So if the EIN# XXXXX after the agreement-- Do I have to again reapply for H1B?

Expert:  INFOLAWYER replied 4 years ago.
I have not found anyone to take over yet.
Customer: replied 4 years ago.
Ok.
Expert:  INFOLAWYER replied 4 years ago.
If someone can help you will get notice.

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