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Lawyer's Assistant: What state are you in? It matters because laws vary by location.

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Submitted: 4 months ago.Category: Legal
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Answered in 5 minutes by:
1/12/2018
Lawyer: Law Educator, Esq., Attorney replied 4 months ago
Law Educator, Esq.
Category: Legal
Satisfied Customers: 124,161
Experience: JA Mentor -Attorney Labor/employment, corporate, sports law, admiralty/maritime and civil rights law
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Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only. Please feel free to ignore any phone service request, the expert does not send those unless asked by customer and they are sent by the site automatically.

What is your situation and question for us?

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Customer reply replied 4 months ago
Hello,
I am a partner in an S Corporation and I am leaving the company. What do I need to file with who (State, Federal) to be removed from the business?
Lawyer: Law Educator, Esq., Attorney replied 4 months ago

Thank you for your reply.

What does your shareholder/operating agreement state about removal from the corporation?

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Customer reply replied 4 months ago
Nothing really. It is my husbands and my company. I am more concerned about reporting to state and federal agencies.
Lawyer: Law Educator, Esq., Attorney replied 4 months ago

Thank you for your reply.

If you want to be removed from the business, this is done by your husband filing an amended articles of incorporation and amended annual report listing only his name on the business and not your name any longer. This is how you remove your name from the business completely and it is filed with your secretary of state and that removes you according to both state and federal laws.

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Customer reply replied 4 months ago
Okay, I would have no idea how to do this nor would he. Are there any templates?
Customer reply replied 4 months ago
Can you help to do that?
Lawyer: Law Educator, Esq., Attorney replied 4 months ago

Thank you for your reply.

Actually, there are forms from the secretary of state's office for just this purpose.

http://bpd.cdn.sos.ca.gov/corp/pdf/amendments/corp-reststk.pdf

and

here is the amended statement of information:
https://www.dir.ca.gov/dlse/regulation_detail/SI-200.pdf

You file with your secretary of state's office and pay the filing fees.

Please do not forget to leave positive feedback by clicking on the 5 stars at the top of your page, as the experts are not employees of the site and get no credit for spending time with customers unless they leave positive feedback. Thank you.

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Customer reply replied 4 months ago
What is the amended annual report listing? Are these two forms you sent to me the same thing and need to be filed together? What is the form SI 200?
Lawyer: Law Educator, Esq., Attorney replied 4 months ago

Thank you for your reply.

Those are the two forms you need to file, which was why I spent my time providing you the links, yes. If you open the links the forms are self explanatory and very simple to fill in the blanks.

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