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Most states require that an S corporation authorize a person or team to file the company's articles of dissolution with the appropriate state agency and wind up its affairs.

Liquidating the corporation's assets is a large part of that process.

S corporations that are going out of business must pay off all known creditors first out of the proceeds of the liquidation and to allow enough time for unknown creditors to make a claim.

Most states also require dissolved corporations to set aside enough money to pay any potential debts that are still in dispute at the time the business closes in case the resolution of the matter isn't in the company's favor.

For example, if the corporation has 100 shares of stock outstanding and

Most states require that an S corporation authorize a person or team to file the company's articles of dissolution with the appropriate state agency and wind up its affairs.Liquidating the corporation's assets is a large part of that process.S corporations that are going out of business must pay off all known creditors first out of the proceeds of the liquidation and to allow enough time for unknown creditors to make a claim.Most states also require dissolved corporations to set aside enough money to pay any potential debts that are still in dispute at the time the business closes in case the resolution of the matter isn't in the company's favor.

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Most states require that an S corporation authorize a person or team to file the company's articles of dissolution with the appropriate state agency and wind up its affairs.

Liquidating the corporation's assets is a large part of that process.

S corporations that are going out of business must pay off all known creditors first out of the proceeds of the liquidation and to allow enough time for unknown creditors to make a claim.

Most states also require dissolved corporations to set aside enough money to pay any potential debts that are still in dispute at the time the business closes in case the resolution of the matter isn't in the company's favor.

For example, if the corporation has 100 shares of stock outstanding and $1,000 to distribute as profit, each share should be allocated $10.

The shareholders would get a proportionate share of the remainder based on how many shares each holds.

Residential Liquidation specializes in helping Baby Boomers, Seniors downsize and transition into a simpler life style.

Over the last few years we have helped many Seniors adjust to major life events. Estate sales & buyouts are often the best option for a client that needs to liquidate an estate quickly, needs to raise cash immediately, or has only a brief amount of time to empty a house.

,000 to distribute as profit, each share should be allocated .

The shareholders would get a proportionate share of the remainder based on how many shares each holds.

Residential Liquidation specializes in helping Baby Boomers, Seniors downsize and transition into a simpler life style.

Over the last few years we have helped many Seniors adjust to major life events. Estate sales & buyouts are often the best option for a client that needs to liquidate an estate quickly, needs to raise cash immediately, or has only a brief amount of time to empty a house.

Once you've turned your equipment, inventory and client lists into cash, you can't just shut the doors and pocket the money.

Distribution to extent of capital stock is basis to the shareholder.

Then dist to extent of RE is dividend income - assume it would be qualified so subject to cap gains rate.

When you create space in your home, you also create space in your life!

We purchase various types of closeout products including excess inventory, general merchandise, liquidation merchandise and returns, offering you a lucrative way to turn your overstock and extra items into money that can be reinvested in your business. Reducing your possessions to life's essentials is key for aging Baby Boomers moving from longtime homes to smaller, more efficient residences.

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