Legal Question in Business Law in Colorado

I bought a small s corporation with about 4 employees in august 2009,ran it for two months,then sold it to another party in october 2009,am i still responsible for my share of the tax preparation fees for that year or it is the new owners responsibility.


Asked on 6/30/11, 2:57 pm

1 Answer from Attorneys
Kevin B. Murphy Franchise Foundations, APC

As a Franchise Attorney I can say this. It really depends on what your contract of sale says on the entire pro-ration of expenses issue. If it says nothing, then it's likely what you and the new owner agree on. Consult with a good business or franchise attorney in your area for specific advice.

Mr. Franchise - Kevin B. Murphy, B.S., M.B.A., J.D.

Franchise Foundations, a Professional Corporation

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Answered on 7/01/11, 7:56 am


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