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Showing 7 posts tagged Sales and Dissolutions.
Looking at the basics of Chapter 11 for businesses, P.1
Last time, we mentioned that a Virginia-based mining company will be selling off parts of its business—including parts located in Kentucky—as part of its Chapter 11 bankruptcy filing. In this and our next post, we wanted to provide a brief overview of Chapter 11 bankruptcy and why it is important for businesses to work with experienced legal counsel when pursuing a bankruptcy. More >
Addressing tax liabilities in a business sale an important task
When a business owner is working on selling his or her business, there is a lot of planning that goes into the process. One important aspect of selling a business is to work out a tax strategy. In any business sale, potential buyers are going to want to know about the tax liabilities the company is carrying before they purchase the business. More >
What are my tax obligations in business dissolution?
Closing a business can be a big undertaking from a financial and legal perspective. Not only must a business reach an agreement among owners that the company should be dissolved, it must also take stock of its assets, obtain a valuation, manage contacts and other obligations, cancel contracts, dispose of assets, pay off debts, and file the proper papers with the state. More >
Business sales: getting an accurate valuation, P.2
In our last post, we began discussing the topic of business valuation, which is an important issue for those in business to have a grasp of when they approach the issue of selling their company or passing it on. As we noted, experts in the field identify several different approaches to business valuation. We’ve already briefly discussed the approach of the business’ assets or its income. More >
Business sales: getting an accurate valuation, P.1
When it comes to selling or buying a closely held company, business valuation is an important issue. For sellers, the concern should be to ensure that one is able to receive a return on one’s investment, if possible. And buyers, of course, usually want to get a deal. Business valuation would be easier if it could be determined by a set formula, but as a recent article in The Lane Report notes, there is both a science and an art to business valuation. More >
Liability of corporation may still exist following dissolution
According to Supreme Court decision for one particular state, dissolution of a corporation does not guarantee that liability will necessarily come to an end. Krafft-Murphy Company, Inc. was a company that had engaged in supplying and installing asbestos-containing products (presumably exposing it to liability). Krafft had also dissolved in 1999. More >
Finding Your Way Out of a Failing Small Business
Small businesses are the bread and butter of America's economy. There are nearly 30 million small businesses in the U.S., and they make up a huge market share of the country's employers. That being said, though, the fact remains that (according to data provided by the Small Business Administration) about one-third of smaller companies don't make it past their first decade. More >
