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KJL LAW
KJL LAW, Lawyer
Category: Legal
Satisfied Customers: 746
Experience:  Attorney at law Office of KJLLAW
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If you do a going out of business sale in kentucky how

Customer Question

If you do a going out of business sale in kentucky how long before you can open another store in same name
JA: Has anything been filed or reported?
Customer: Not sure what you mean
JA: Anything else you want the lawyer to know before I connect you?
Customer: No
Submitted: 1 month ago.
Category: Legal
Expert:  KJL LAW replied 1 month ago.

Hello and welcome to Just Answer. No attorney-client relationship or privilege is formed by speaking to an expert on this site, the answers are for general information. By continuing, you confirm that you understand and agree to these terms.

In Kentucky if you are closing your business and having a “going out of business sale” or other type of “closing sale” there is not time restriction on re-opening the store. If you have a corporation or an LLC and you want to cease doing business and close the corporation altogether and form a new corporation, for your new business, then you must file an Articles of Dissolution with the Secretary of State.

You must also cancel any permits or operational licenses you hold in the old corporation’s name. You will need to contact your board of licensure to cancel those licenses.

Also, a business entity that ceases to operate in Kentucky has certain tax responsibilities to facilitate the closure of business tax accounts. A Kentucky Corporation and/or Limited Liability Company that is no longer operating is required to file a “final” corporate and/or limited liability entity tax return in order for those tax accounts to be closed; other business tax accounts may be cancelled by utilizing the 10A104 Update to Business Information or Cancellation of Kentucky Tax Account(s) form.

But if you are just closing and re-opening as a renewed business, the same products or different, then you can just reopen under the same business structure and name with no legal issues.

It was a pleasure assisting you today, and I would appreciate if you would rate my service, so I will receive credit and payment for my work. After you rate the question you can ask follow up questions, and you will not be charged any additional money for the follow-up questions.

Expert:  KJL LAW replied 1 month ago.

if you have any follow up questions, please just ask.

Expert:  KJL LAW replied 1 month ago.

Please let me know if you have any additional questions.

Expert:  KJL LAW replied 1 month ago.

Please let me know if you have any additional questions.