Our Videos

FAQ / What to consider when purchasing an existing business?


Before purchasing an existing business, or the assets from an existing business other than in the ordinary course of business, you must determine if the seller was required to collect the state sales tax. If so, the sale is considered a bulk sale transaction, and the purchaser has legal responsibilities regardless of the size or cost of the purchase. A person who purchases or acquires all or any part of the assets of a business may be held personally liable for any sales tax owed by the seller. As a purchaser of assets in a bulk sale transaction, you are required to notify the state department of taxation and finance of your pending purchase or acquisition before paying for or taking possession of the business assets. Any license or registration that is required for the operation of the business may not necessarily be transferable from one individual or business, even when an existing business is purchased. You may be required to complete new registration forms for all required licenses or registrations. For more information, please contact us.


 




Testimonials

AnnaMaria Realbuto
Thank you for all your assistance and efficiency...
Read More »
Kateryna Melnychenko
Thanks a lot Anton!...
Read More »
Rani Payne
Thank you so much! I’m sure I will be in touch again with something else that will need to be apost...
Read More »
Serge Bauer Law
Thank you again for your help with this case!...
Read More »



FAQ

Do I need a permit or license for my business?
Read More »
Since when does the Wassenaar Arrangement exist?
Read More »
Is there a waiting period? Can we get married right away?
Read More »
If a student was not in an authorized period of OPT on the eligibility date, can the student work during the cap gap extension?
Read More »






News

April 11, 23
Fleetwood Mac keyboardist and vocalist Christine McVie died of stroke and cancer-death certificate
Read More »
March 27, 23
China joins Apostille Convention
Read More »
March 18, 23
California to permanently seal old convictions on criminal records
Read More »
March 3, 23
Saudi Arabia issues guidance on apostille procedure
Read More »