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LawGuy
LawGuy, Attorney
Category: Bankruptcy Law
Satisfied Customers: 33134
Experience:  Over 25 years experience representing clients in business, transactional and real estate law.
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I have a Florida S corporation that I would like to close.

Customer Question

I have a Florida S corporation that I would like to close. And it is already going to go inactive as of September and I want to make sure that none of it's liabilities follow me into my personal life or additional Business ventures.
Search liabilities include a penalty for late quarterly filing, and insurance company claiming I owe them a minimum payment,and a possible client dispute.
Submitted: 11 months ago.
Category: Bankruptcy Law
Expert:  LawGuy replied 11 months ago.

Good evening. I am Loren, a Florida licensed attorney, and I look forward to assisting you.

Does the corp have any assets?

Have you agreed to be personally liable to the client or insurance company?

Customer: replied 11 months ago.
No and no.
Client and Corp signed an AIA contract.
What about fines?
Expert:  LawGuy replied 11 months ago.

You would just be prevented from reinstating the corporation unless you paid all fines and late fees for not filing the annual report.

Expert:  LawGuy replied 11 months ago.

If you do not care if the corp is administratively dissolved then you should not have any personal liability.

Customer: replied 11 months ago.
I'm not concerned about reinstating the existing company. I'm a contractor and I'm going to transfer my license to a new company and I don't want anything to follow me.
Expert:  LawGuy replied 11 months ago.

It will not follow you. It is its own entity.

Expert:  LawGuy replied 11 months ago.

Did you have further questions? Have I answered your question?

Expert:  LawGuy replied 11 months ago.

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Expert:  LawGuy replied 10 months ago.

If you have no further questions please remember to rate my service so that I am credited by JA for answering your question and also so that I may close the question.

There is NO additional charge to you for leaving a positive (5 stars) rating on this page.

Thanks.

Customer: replied 10 months ago.
Sorry I thought I had hit send. What of licenses are transferring from the old corporation to the new one? Is that an end run around the bankruptcy?
Expert:  LawGuy replied 10 months ago.

That is not really an issue of the corporation so much as the policy of the licensing bodies. In other words, it is a local issue.

It is not an end run around bankruptcy, and would not normally be an issue.

Expert:  LawGuy replied 10 months ago.

Just make the proper applications for transfer.

Expert:  LawGuy replied 10 months ago.

If you have no further questions please remember to rate my service so that I am credited by JA for answering your question and also so that I may close the question. Thanks.