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At one time, there were only three options for company organizers choosing a form of business organization: the sole proprietorship, the partnership and the corporation.
Possible reasons requiring liquidation are the closing or sale of the business or changing the business structure to provide more favorable tax treatment.
If the stocks are transferred instead, this will result in a capital gains tax on any appreciated value in the stocks at both the corporate and shareholder level.
Many owners choose this option because the capital gains tax rate is lower than the rate applied to the sale of appreciated assets.
The double taxation feature inherent in C corporations plays a special role in liquidation.
The liquidation of a company means that the business operations have ceased and the assets and property owned by the corporation are redistributed.