Description
Gain the tools needed to avoid costly mistakes and potential legal issues during dissolution.
This presentation provides key insights into the legal and tax aspects of dissolving a corporation or partnership. It covers everything from filing dissolution papers to asset distribution. By attending, youll acquire the necessary tools to avoid costly mistakes and potential legal issues during dissolution.
Date: 2023-08-30 Start Time: 1:00 PM ET End Time: 2:40 PM ET
Learning Objectives
* You will be able to describe the steps necessary when filing a certificate of dissolution and the role it plays in the dissolution process.
* You will be able to discuss the importance of filing final tax forms and how these should be properly handled.
* You will be able to explain how to effectively notify creditors and settle claims to avoid potential legal liabilities.
* You will be able to identify the correct and legal procedures for distributing assets among partners or shareholders.
Introduction
• Overview
• Brief Introduction to Business Dissolution
Filing the Certificate of Dissolution
• Definition and Purpose of the Certificate of Dissolution
• Steps Involved in Filing the Certificate of Dissolution
• State-Specific Requirements for Dissolution
Filing of Tax Forms
• Understanding the Final Tax Return
• Other Relevant Tax Forms and Their Handling
• Handling of State Taxes During Dissolution
Notifying Creditors and Settling Claims
• Procedures for Notifying Creditors
• Evaluation of Claims and Resolving Disputes
• Legal Requirements and Potential Liabilities in Settling Claims
Distributing Assets
• Proper Procedures for Asset Distribution
• Tax Considerations During Asset Distribution
• Legal Implications and Potential Pitfalls During Asset Distribution
Other Considerations
• Legal Obligations and Liabilities Post-Dissolution
• Potential Tax Implications After Dissolution
• The Impact of Dissolution on Employees, Stakeholders, and the Community
Questions and Answers Session
AIPB ,CPE ,Additional credit may be available upon request. Contact Lorman at 866-352-9540 for further information.
Alex Oware, CPA-O & G Tax and Accounting Services, LLC
