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-   -   Dissolving a S Corporation (https://www.askmehelpdesk.com/showthread.php?t=360760)

  • Jun 2, 2009, 04:34 PM
    casey7398
    Dissolving a S Corporation
    I own a company where I am the 51% owner, CEO/President and Chairman of the Board.
    I have 4 partners owning the 20%, 10%, 10%, 5% and 4% is open stock.

    Do I have the authority and power to dissolve the company?
  • Jun 3, 2009, 04:33 AM
    excon

    Hello c:

    The way you ask indicates that there's a feud going on. If that's the case, you have a fiduciary duty to your stockholders NOT to lose their money.

    IF, on the other hand, the company is broke and you're not closing to spite anyone, you certainly can.

    excon

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