Legal Question in Business Law in New Jersey

Re: Partnership Division

You should really see an attorney to resolve this issue. Otherwise, he could come back and cause problems later one. I can refer you to a good attorney. Just call me at 732/247/3340.

Re: Partnership Division

You do not give enough detail in your question for me to answer it.

A short consultation would probably give you the information you need; if you came to me, I would just charge you for the time spent, not a lot of money. You need some guidance, I think.

My contact information can be obtained from the links below, just click on the Attorney Profile link. Let my secretary know you found me through LawGuru.

Disclaimer: Your question and any response does NOT create an attorney-client relationship between you and this law firm. You can not rely on the statements made by an attorney given over the internet. The exact facts of your situation, including facts which you have not mentioned in your question, may completely change the result for your situation.

Re: Partnership Division

If your business was truly a Partnership, then dissolution would require filing a Notice of Termination of Trade Name. You would also need to file a final US 1065 Partnership return.

If your business was a Limitied Liability Company (LLC) or Corporation there would be several additional steps. This would include filing a No Asset Dissolution of the Corporation with the NJ Department of Revenue.

Because you can have substantial legal and tax liability, you should engage an experienced tax and business attorney.

I hope this helps!

Ron Cappuccio

http://www.BusinessEsq.com