Changes in Ownership

Notification Requirements for Ownership Changes

At some point or another every business entity will undergo changes in ownership. Perhaps the business will take on new partners or shareholders to accommodate growth.

Or, as the principals near retirement age, the business may be sold to a new owner. In some cases the company owners may decide to simply wind down its affairs and cease operations. In any of these cases corporate governance regulations will require that the appropriate federal and state agencies be notified in writing of the change of ownership or dissolution. Such notification usually involves contacting the IRS and state agencies such as the department of workforce services, unemployment insurance, workers compensation fund and the department of commerce and/or corporations.

If your business has undergone changes in ownership recently that have not been reported to the appropriate agencies, Corporate Assistance stands ready to help you file the appropriate forms and reports.

Corporate Assistance LLC is not a law firm . Material discussed is meant for general illustration and/or information purposes only and is not to be construed as tax or legal advice. Although the information has been gathered from sources believed to be reliable, please note that individual situations can vary. If legal advice is needed, consult your attorney.