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
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