Legal Question in Business Law in Pennsylvania

S Corporation change

I am a partner in an S Corporation. My partner wants out of the business, which is listed as an LTD.

Is there a procedure for us to change the LTD to leave me as the sole partner without dissolving the company or creating a new one? The business was chartered in Pennsylvania, but now operates in West Virginia.


Asked on 3/13/07, 8:05 pm

1 Answer from Attorneys
John Jackson Law Office of John A. Jackson, P.C.

Re: S Corporation change

Do you have an agreement that specifies how a partner can leave the business? If so look at that. Can the split be done on good terms? If so then it really is a matter of filing out some forms that you can obtain from the PA Secretary of States Home Page. If you need additional help I or another attorney that post here would be happy to help you for a fee.

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Answered on 3/13/07, 8:15 pm


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