Legal Question in Business Law in Florida

Starting a new business

In January 2007 I opened a corporation in which I am the president, and started a clothing retail store. Unfortunately I had to close the store back in Feb 2008 but still have two outstanding debts, those being for the unused portion of a three year contract with an alarm company and AT&T. I am thinking of selling the rest of my merchandise as an online store, under a new company name. The old company is still active but I am planning to dissolve it. With those two debts still out there, if my name is on the new company will the new company be affected. Also what do you think is the best way to open the internet business, Corporation, LLC?????


Asked on 9/23/08, 5:12 pm

1 Answer from Attorneys
William Gwaltney William W. Gwaltney, Attorneys at Law

Re: Starting a new business

The answer to the first part is Maybe. If you are simply dissolving a corporation to avoid a debt then you could face problems. Of course, so long as you did not personally guarantee the debts it could be difficult to come after you personally.

The second question related to business form for your internet business requires more information and is really to involved to properly answer in the forum. You should consult a business attorney in your are and even your CPA.

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Answered on 9/23/08, 7:05 pm


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