Do I need two EIN numbers?

The EIN is the tax ID number for the company you are forming. Unless you create a separate company for a separate app, you won't need a new EIN. It...

How to Calculate Fair Market Value of Shares?

You may be able to resign as a director, but not as a shareholder. You may or may not have a right to demand you get bought out. Get a copy of your...

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I am a partner in an S corporation. I receive a K-1 every year but I have not received any cash for the last three years.

As this is an S-corporation, if you have a Shareholder's Agreement, see what it provides. In any event, it sounds like you are pretty far down the...

Selling my business?

Technically you don't need a purchase agreement - just give the buyer a bill of sale and, if applicable, an assignment and assumption agreement if...

How to get rid of an LLC member.

There is no such thing as a "Manager Member". My guess is he is both a manager and a member, but without looking at the Articles (and any operating...

Breach of contract and successor liability

If it was a stock sale, then the contract probably transferred to B. If it was an asset sale, it may have transferred to B if they assume it. As...

We are a direct mail coupon magazine (for profit) that would like to form a separate non profit company

Generally speaking, what you want to do can be done. However, charities aren't "owned" in the traditional sense and property can only be used for...

How can I protect my self and my newly formed company from getting sued?

Whoever the customer contracts with (presumably your company), will be liable for any issues. If the individuals don't run the company properly,...

What is the actual corporation dissolution date in the state of IL?

Generally speaking and without knowing the facts of your situation, nexus has to do with the presence of the company in the state. Filing for...

I own a 100% of a corporation. I am giving 38% to my former girlfriend. Can I sign over the remaining shares to the company?

Generally speaking yes - assuming it is not prohibited in by laws or Articles of Incorporation. But let's see what happens... 38% to GF. 62% goes...