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NEW IRS REVENUE PROCEDURE MAKES FILLING LATE S-CORP ELECTION EASIER

contract formFor many people who are starting a new business, organizing an S-Corporation ("S-Corp") offers the business owners many advantages. In addition to limited liability and protection of personal assets, among other things, stock holders have the benefit of pass-through, single-level taxation.In order to obtain status as an S-Corp, after incorporation with a partic...
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ARE YOU LIABLE FOR SELLING A COMPANY’S LIABILITIES? SUCCESSOR LIABILITY IN ILLINOIS

selleing companyIf you are considering buying another company's assets, one important consideration is: what liabilities of the seller will I be taking on? This question generally only arises in an asset purchase, as a stock purchase will typically result in liability on the part of the successor company.Whether a company that purchases the assets of another company can be ...
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