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S Corporation officer removal

Asked by: Tiffani - 29 October, 2012
https://d25eic0jctudgb.cloudfront.net/images/site/avatars/default.png-f1597c1da25f30f8c1a941405e8391c8 How do I remove myself from a S Corporation that I originally entered with a partner?
Answered by: Robert Kowalski - 8 November, 2012
https://d25eic0jctudgb.cloudfront.net/images/site/avatars/35.jpg-687fc92d5f6c5febcbdccb6895b08b8c Dear Tiffani,

To answer this question fully I would need to understand how your corporation was originally formed. In most cases the names of shareholders would not appear in Articles of Incorporation, in some the names of directors and/or officers would appear in the Articles. I would need to see the corporation's Articles of Incorporation to advise further on that point.

Secondly, I would want to know if your corporation ever adopted bylaws. In bylaws you would list all the officers, directors and shareholders of the corporation. If bylaws were adopted then they need to be amended, and if they were not adopted they should be adopted, not listing you in any capacity (just keep in mind, in most states corporations must adopt bylaws to be fully established).

Finally, if you have listed yourself in any IRS forms (such as SS4 or 2553) you should notify the IRS of the change. Same would go if you appeared in any state tax ID registrations.

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