Legal Question in Business Law in Florida
In Florida,when one partner of a 50/50 S corporation wants to sell to the other, what forms need to be completed. Do any need to be notarized? Do all assets need to be included in the selling price, or can they be split later when/if the business closes or sells?
Thank you
Asked on 6/22/12, 11:14 am
1 Answer from Attorneys
You need only fill out the back of the stock certificate, give it to the corporation, and have the new shares issued to the name of the new owner. You may also want to advise your CPA since the sale of the stock is a capital transaction subject to income taxes.
The shares represent that value of the corporation, which includes all of the corporate assets already.
Answered on 6/22/12, 12:25 pm
Related Questions & Answers
-
Hello, I paid 2,603.00 for a new engine for my 2001 Lincoln Navigator only to find... Asked 6/21/12, 10:43 am in United States Florida Business Law
-
My fiance approached a wedding planner to provide decorations and so four our... Asked 6/08/12, 4:50 pm in United States Florida Business Law
-
I contracted someone to do a service for me. Over the span of 2 months, they have... Asked 6/07/12, 5:59 pm in United States Florida Business Law
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
