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    1 Reply Latest reply on Jun 23, 2008 6:49 AM by LUCKIEST

    Selling an S-Corp to partner

    pacific2008 Newbie
      Hello Everyone,

      This is an S-Corporation, incorporated in FL. I want to transfermy 50% of the business to my partner (other 50%).

      Which are the legal steps that I should take to completely transfer the company?

      I already went to the Department of State and made an ammendment, resigning as the VP. Leaving him as the President, VP and Treas.

      Is that it?

      We also have an unsecured LOC. But he is willing to take responsibility and the business actually can. But what should I do to make sure it does not bounce on me later?