I am buying the restaurant business. The restaurant has been 10 years and owner is retiring.

They have S-corp.

Can I just change the ownership name and take over S-corp?
Since they have been business for 10 years and establish the credit.

Or should I form the new entity to start the business?
In that case, I will form LLC.

The reason I am interested in take over their compay that I can say the company has been business for 10 years.

Hello Kilala,

When you form a corporation, it has a documented number of years before that business expires, usually 50 years or over. When that expires, you can shift to LLC. But as of the moment, I think you can't do anything about it.

Darbydyar


visit: <a href="http://www.corpnet.com/incorporate/"><b>Incorporate a business</b></a>