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I own 50% of an unprofitable S-Corp created in Florida. I

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I own 50% of an...
I own 50% of an unprofitable S-Corp created in Florida. I would like to dissolve all my interests in the S-Corp and hand them over to the other business partner. Essentially, I don't want anything to do with the S-Corp and just want out of it. What paperwork needs to be filed with what governmental entities in order to accomplish this?
Submitted: 6 years ago.Category: Business Law
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Answered in 1 minute by:
8/3/2011
Business Lawyer: Richard, Attorney replied 6 years ago
Richard
Richard, Attorney
Category: Business Law
Satisfied Customers: 56,031
Experience: 32 years of experience practicing law and a businessman.
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Good morning. Is the other shareholder willing to accept your 50% interest?
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Customer reply replied 6 years ago
Yes.
Business Lawyer: Richard, Attorney replied 6 years ago

Thank you. In that case you simply need to assign your shares to your other shareholder....there is a transfer box on your stock certificate. You will want the S Corporation to file a final tax return but you will not need file anything with the State of Florida.

 

 

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Please be aware that the information provided here is not legal advice. Rather it is simply general information. All states have different intricacies in their laws and any information given is simply general information only and specifically is not intended to be, nor does it constitute, legal advice. This communication does not establish an attorney-client relationship with you. I hope this answer has been helpful to you.

 

 

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