Hi,I live in Chicago.I want to purchase an S-Corporation
from my friend.He has an S-Corporation ,he has a City of Chicago issued LICENSE TO OPERATE A LIMOUSINE.
Currently ,he is using his LIVERY PLATES(LIMOUSINE LICENSE) on my car.He is no longer interested in keeping his business
,so I want to buy the business from him,to avoid any disruption in the functionning of my car as a Limousine.
We created a "BUSINESS SALE AGREEMENT" which we signed in front of a Notary.I also gave him a Cashier Check in the amount of $400(which is the full agreed purchase price).I would like to know what are the next steps:does he have to make also a Bill of Sale
,Affidavit of Title,Assignement of the Assumed business name??Or are these stepts optional?Also,how do I record the transaction ,that I am the new owner of the business,with other entities(like City Of Chicago,Illinois State,IRS,Chicago Department of Business affairs,Chicago Dept of Finance)???I would consider hiring you(an attorney to help with this process ,of course,I will pay for it.What would be the cost)?thanks