Q: Business partner filed for a withdrawl of assumed name, is this considered a dissolution?
In 2018 my business partner emptied and closed our business account and started a competing business. She told clients awful lies about me and refused to sign a dissolution agreement or anything to help dissolve the partnership. This left me financially devestated. I kept the business going and now in a much better place financially. I could finally afford to get the taxes done for 2017. The IRS is saying that we need to have a dissolution filed with the state of Tx. I sent her an email explaining this and told her to contact the CPA. She sends the CPA a copy of a withdrawl of assumed name that she had filed in April of 2018. I had no clue about this being filed and I have been doing business this whole time under this DBA and EIN. What kind of issues will I face since I've been doing business under this assumed name? Will the IRS consider this a dissolution since she filed a withdrawl of assumed name? Thank you.
A:
Free practical advice offered for the last 41 years to people starting their own small businesses:
The main difference between successful small businesses and those that fail within a relatively short period of time is good legal advice. The owners of most successful small businesses understand that retaining a competent experienced business lawyer and paying modest legal fees to advise them--from day one—may end up saving them thousands of dollars later when they must fix unnecessary disasters that could have been avoided. Calling a lawyer who you know--and trust--beats asking strangers for free business advice on Justia. Try it and see.
Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.
The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.
Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.
