Liquidating distribution accounts receivable

Posted by / 20-Jul-2017 21:04

If a company has been dissolved, it must be restored to the register at Companies Registry before liquidation proceedings can begin.

If the Registrar has reason to believe that a company is not carrying on business or is not in operation, its name may be struck off the register and dissolved without going through liquidation.

(close down) 2) the conversion of assets into cash (i. The liquidation of a corporation is not the same as its dissolution (the termination of its existence as a legal entity).

A California resident who moves to Nevada, Florida or other "no-tax" state (and becomes a non-California resident) only pays a 15 percent federal capital gains tax (rather than the 21.04% blended California and federal tax, and the 1% individual California surtax).

Somebody may also wish to calculate the value of his or her own estate to help inform their decisions about their will, and potentially decrease the amount of taxes that will be due from the estate and its heirs.

For nearly any purpose, it is the value of the taxable estate that you would need to calculate.

However, California's top state individual income tax bracket has recently increased with the which is in addition to the regular California maximum individual tax rate of 9.3 percent.

Because of the potential double level of income taxation on the asset sale of a business (at the C corporate level and then at the individual level), the tax consequences of a business's sale will be governed by what owns that business -- partnership, limited liability company, S corporation or C corporation.

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Section 704(d) of the Code prohibits partners from claiming deductions in excess of the basis of his partnership interest.

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