B and s liquidating corporation advice on dating courting for marriage
607.1406(10), whether such claim is based on an event occurring before or after the effective date of dissolution.If the assets have been distributed in liquidation, against a shareholder of the dissolved corporation to the extent of such shareholder’s pro rata share of the claim or the corporate assets distributed to such shareholder in liquidation, whichever is less, provided that the aggregate liability of any shareholder of a dissolved corporation arising under this section, s.If the dissolved corporation or successor entity complies with subsection (1) or subsection (2), the claim of each of the following claimants is barred unless the claimant commences a proceeding to enforce the claim against the dissolved corporation within 4 years after the date of filing the notice with the Department of State or the date of the second consecutive weekly publication, as applicable: A claimant who did not receive written notice under s.607.1406(9), or whose claim was not provided for under s.So how tolerant is Congress and the IRS when a disproportionate distribution is made but the underlying stock confers identical rights upon the shareholders? S distributes ,000 to A in the current year, but does not distribute ,000 to B until one year later.
Last Friday, in PLR 201236003, an S corporation had made disproportionate distributions for what appears to have been several years.The BCL provides for voluntary dissolution through either of two methods: Under the first method, your board of directors adopts a resolution recommending that the corporation be voluntarily dissolved.Among other things, the resolution must state whether the dissolution will proceed under Section 1975 of the BCL or under Subchapter H of the BCL.Under one method, contained primarily in Section 1975 of the BCL, a corporation provides for “liabilities” (claims against the corporation) filing articles of dissolution. You should strongly consider consulting with an attorney before dissolving your corporation to determine which approach to handling claims makes the most sense in your particular case.Your corporation is registered with the State of Pennsylvania.
“Sale or Exchange” or “Distribution” There are two ways that a Subchapter S corporation shareholder can dispose of his stock in the company: sell it to another person or sell it back to the company.