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I have a Florida S corporation that I would like to close.

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And it is already going...
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: 1 year ago.Category: Business Law
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Answered in 2 minutes by:
8/30/2016
Business Lawyer: Loren, Attorney replied 1 year ago
Loren
Loren, Attorney
Category: Business Law
Satisfied Customers: 35,884
Experience: 30 years experience representing clients .
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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?

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Customer reply replied 1 year ago
No and no.
Client and Corp signed an AIA contract.
What about fines?
Business Lawyer: Loren, Attorney replied 1 year ago

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

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Business Lawyer: Loren, Attorney replied 1 year ago

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

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Customer reply replied 1 year 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.
Business Lawyer: Loren, Attorney replied 1 year ago

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

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Business Lawyer: Loren, Attorney replied 1 year ago

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

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Business Lawyer: Loren, Attorney replied 1 year ago

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Business Lawyer: Loren, Attorney replied 1 year ago

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Customer reply replied 1 year 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?
Business Lawyer: Loren, Attorney replied 1 year 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.

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Business Lawyer: Loren, Attorney replied 1 year ago

Just make the proper applications for transfer.

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Business Lawyer: Loren, Attorney replied 1 year 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.

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Loren
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