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Complete sale of all assets, and intellectual rights (similar to a gas station being sold). Tax returns, city licenses, and industry certifications will be responsibility of new owner.
ok. All of the outstanding stock owned by the current officers will be traded to the new owners of the company. There will be no minority ownership stock.
At $170K purchase price what are the tax implications if stock sale or asset sale? Again, this is not a merger. Plus, anticipated profit at $75K annually.
Thank you. I will clarify with the broker. the purchase agreement is a little vague.....you are right....it does include IP, assets, liabilities, but does not indicate entity form acquired. the current Sole Prop may be doing a DBA from his SSN....in which case I would need to create an entity....or at least form my own DBA.