How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Richard Your Own Question
Richard, Attorney
Category: Business Law
Satisfied Customers: 55300
Experience:  32 years of experience practicing law and a businessman.
Type Your Business Law Question Here...
Richard is online now
A new question is answered every 9 seconds

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

Resolved Question:

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: 5 years ago.
Category: Business Law
Expert:  Richard replied 5 years ago.
Good morning. Is the other shareholder willing to accept your 50% interest?
Customer: replied 5 years ago.
Expert:  Richard replied 5 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.



I hope this has given you information that has been helpful to you. I wish you the best of luck!


If you have a follow-up question, please remember that there might be a delay between your follow up questions and my answers because I may be helping others or taking a break.


If I have adequately answered your question, even though the answer might not have been the one for which you hoped, I would appreciate it if you would please click the GREEN ACCEPT button so that I receive credit for my work; otherwise, though you have made a deposit, I do not receive credit.


If you need additional clarification on this question after clicking ACCEPT, please do not hesitate to click Reply and I will be happy to do what I can to help you further. Thanks for allowing me to be of service to you.


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.



Richard and 2 other Business Law Specialists are ready to help you