Legal Question in Business Law in New Jersey

There are two types of transactions. One is when one buys the actual business and the other is when one buys just the assets of a business. Though the end effect may seem to be the same the two different type result in two different responsible parties for any taxes collected / owed.

It is unclear from your description which type of transaction you undertook. After the type of transaction is knows all the documents would need to be reviewed to determine the responsible party. Feel free to reach out directly to me.

Roman R. Fichman, Esq.

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