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A small business can elect to be taxed as a partnership under Subchapter S of the Internal Revenue Code if it meets the eligibility requirements. Although an S corporation is taxed differently, it still maintains its legal status as a regular corporation under the law. Consequently, the process of dissolving an S corpo... |
Vote to dissolve the S corporation. Typically, a corporation’s bylaws require a majority of the board of directors to vote for dissolution. The matter is then presented to the shareholders for a vote. If a majority of shareholders vote for dissolution, the board proceeds with dismantling the company. In some cases, the... |
Appoint a person to wind up the affairs of the S corporation. Pass a resolution authorizing one of the board members to file dissolution paperwork and settle all business matters. |
File articles of dissolution. This paperwork should be filed with the same state agency that accepted the corporation’s articles of incorporation. Most states provide a form that you can fill out to fulfill this requirement. Pay the filing fee, and keep an official copy of the paperwork with the S corporation’s records... |
Pay off all known creditors. Notify the S corporation’s creditors in writing by certified mail that it is going out of business. Request a final bill by a specific date. Pay all legitimate bills out of corporate money. Liquidate assets if necessary to meet obligations. |
Follow the state’s procedure for providing notice to unknown creditors. Most states require dissolving corporations to publish a notice in a local paper, requesting anyone who has a claim against the corporation to make the claim known by a specific date. |
Pay all outstanding tax obligations. Pay any state sales taxes owed and any state or federal payroll taxes. |
Set aside enough money for contingent liabilities. These are unresolved obligations, such as an unresolved lawsuit, that could result in the corporation owing money to a third party. |
Close all accounts except the bank account holding the money set aside for contingencies. Notify customers that the corporation is closing. |
Distribute any remaining assets to shareholders in proportion to their ownership interest. This might require liquidating or valuing corporate assets. |
Prepare the S corporation’s final tax return, including final Schedule K-1s for each shareholder. An S corporation reports its annual income on Form 1120S. Mark “Final Return” for question H at the top of the return to let the IRS know that this will be the corporation’s last filing. Similarly, file the corporation’s f... |
As the frequency of the three true outcomes in baseball continues to rise, other parts of the game are declining. |
Home runs, walks and strikeouts are known as the true outcomes because they are pitcher-vs.-hitter results with defense not a factor. Homers (1.26 per team per game) and strikeouts (8.42) are on record paces, and walks (3.27) are at their highest level since 3.42 in 2009. |
Something has to give, and some of what has given are ways to advance one base at a time. |
Successful sacrifices increase the chance of scoring one run but decrease scoring overall because of fewer multiple-run innings. That knowledge has made an impact, and sacrifice bunts are on a record-low pace. |
So far in 2017, there have been 0.19 sacrifices per team per game. The first time sacrifices dropped below 0.4 was 1983 (0.37), and it took 30 years to dip below 0.3 (0.28 in 2013). Last season brought a record-low 0.21. |
With the Rockies leading with 37 sacrifices and the Cubs eighth with 22, 14 of the top 15 bunting teams are in the National League. |
The White Sox are the exception. Their 18 sacrifice bunts, all by non-pitchers, are tied for 12th in the majors. The Sox lead the majors in sacrifices by non-pitchers, with the Indians next at 14. |
At 0.53 steals per game, teams are right in line with the 0.52 in 2015 and 2016. That’s not a historic low. The 0.26 per game in 1950 was the low after deep erosion throughout the live-ball era, which began in 1920. |
Steals rose anew starting in the 1970s and reached a live-ball high of 0.87 per game in 1987. But steals have gone into remission with increased power, with every season since 2013 at 0.57 or below. |
There’s a break-even point on stolen bases, changing slightly from year to year, of about 70 percent. Teams that run into a greater proportion of outs cost themselves runs by trying to steal. In 2017, 70.4 percent of attempts have been successful. |
The White Sox, who rank 24th in the majors with 29 steals, are at 58 percent; the Cubs, who rank 28th with 25 steals, are at 65.8 percent. |
Major-league hitters are batting .255 this season. After batting averages held in the .260s from 2000 to 2009, they’ve ranged from .251 to .257 since 2010. |
Fewer hits these days are singles. Teams are averaging 8.7 hits per game, including 5.56 singles. Teams averaged 8.71 hits last season, 5.67 of which were singles. From 2004 to 2008, the average ranged from 6.02 to 6.15 singles per game. |
With occasional exceptions, the norm has been above six throughout major-league history, even jumping above seven in the late 1920s and early 1930s. |
The Cubs are at 7.98 hits (4.78 singles) and the Sox at 8.88 hits (six singles) per game. |
A singles total that is low even for this era puts the Cubs on the extreme, but it’s also a sign of the times. As it’s played today, baseball has become less of one-base game. |
Follow me on Twitter @GrochowskiJ. |
Thanks to RuPaul, daytime television is about to become less of a drag. |
The host of RuPaul’s Drag Race — for which he has received two Primetime Emmy Awards — is teaming up with Telepictures (The Real) to film a daytime talk show pilot, our sister publication Variety reports. |
Michelle Visage, Ru’s right-hand woman on Drag Race and other projects, will be heavily involved in the talk show, according to the report. |
In addition to Drag Race, which recently wrapped its 10th season on VH1, Ru has hosted a number of TV shows, beginning with The RuPaul Show in the late 1990s. The drag icon also has several projects currently in development, including a J.J. Abrams-produced Hulu series about his life and a Netflix comedy titled AJ and ... |
Will you add Ru to your daytime lineup in 2019? Drop a comment with your thoughts below. |
A vocal advocate for teaching basic math in the Palo Alto schools has been appointed by Governor Pete Wilson to a state commission to create academic standards for kindergarten through 12th grades. |
Williamson "Bill" Evers, a research fellow at the Hoover Institution and an Escondido School parent, will serve on the 21-member Commission for the Establishment of Academic Content and Performance Standards. |
Earlier this year, state Superintendent of Public Instruction Delaine Eastin appointed former Palo Alto school board member and Stanford education professor Bob Calfee to the same commission. Eastin will also serve on the commission. |
Evers, 47, co-founded the local parent group Honest Open Logical Debate (HOLD), a coalition advocating that mathematics basics, such as computation, continue to be taught at all grade levels. |
He received his bachelor's, master's and doctorate in political science from Stanford University. He was managing editor of the Journal of Libertarian Studies and editor-in-chief of Cato Institute's Inquiry Magazine. He is a member of the board of directors of the University South Neighborhood Group. |
The state commission was created by legislation last year and has the responsibility of coming up with standards by which statewide tests will be put together and measured. The standards will be used to create new tests for students from kindergarten through 12th grades. The last statewide test, CLAS, (California Learn... |
"They will be laying out a blueprint for the expectations of kids," said Barbara Miller of EdSource, a nonprofit corporation in Menlo Park analyzing education issues. |
The governor has appointed 11 members to the commission. The state Senate and Assembly will each appoint one person, and Eastin is responsible for appointing six. The commission is expected to give its recommendations to the state Board of Education by July 1, 1997. The board must by law adopt the standards by Jan. 1, ... |
School districts will have to wait for new statewide standardized tests for at least two more years while the commission develops its standards. |
I always found it odd when I was at The Jewish Journal that if I used the term tikkun olam, I had to explain to readers that it was a Hebrew expression for "repairing the world." You would think that a largely Jewish readership would be overwhelmingly familiar with this very basic Jewish concept. You would think, and I... |
But I'm sure you'd be right to assume that the vast majority of Americans have heard of the apostles. |
The apostles were a group of a dozen men, according to Christian tradition, who spread the gospel of Jesus after his crucifixion. |
While "apostle" is commonly used to refer both to the early leaders of Christianity and specifically to the 12 Disciples of Christ, I would like to think such a clarification really isn't necessary here. |
But, hey, I'm not faulting the reporter or editors for thinking it was necessary. I wouldn't have put that reference in the story, but a line like this -- the final sentence of a short story -- seems to say more about the state of religious literacy than it does anything about the Godbeat. |
Warm summer -- Sheppard Art Gallery, 8173 Main St. in historic Ellicott City, is showing paintings of airy, light-filled landscapes and seascapes by Barbara Gruber and Robert Knudsen through Aug. 1. Knudsen creates a tranquil atmosphere; Gruber, a sense of light, color, air and touch. One of the paintings in the exhibi... |
Panaji: AIFF's Disciplinary Committee, which meets next week, will decide what action to be taken against FC Goa's "unreasonable, undisciplined and bullish" behaviour after their 2-3 loss to Chennaiyin FC in the final of the Indian Super League (ISL). |
Match Commissioner AK Mamukoya, in his report, asked AIFF to take necessary action against FC Goa to save Indian football from being taken hostage. |
He mentioned that the three Japanese referees were threatened with physical assault by FC Goa staff and players from the bench. "After the final whistle, many substitute players and officials led by Rajesh Malgi, Equipment Manager of FC Goa, rushed to the referee, surrounded him and scared him with physical gestures," ... |
Mamukoya slammed Goa for ganging up against Chennaiyin FC captain Elano Blumer. He also condemned the behaviour of Salgaocar and AIFF vice-president, Shrinivas Dempo. |
India, Russia and Tajikistan agreed in 2002 to operate Ayni on a rotational basis once construction work at the air base was completed. |
Kovind visited Ayni Air Base, about 15 km west of the Tajik capital Dushanbe, during his October 7–9 trip and signalled India’s interest in expanding its presence there. |
NEW DELHI: India, seeking to expand its strategic presence in Central Asia, is hoping to expand its military base in Tajikistan — its only such facility abroad — where Indian Air Force and Border Roads Organisation personnel have been stationed since 2005. |
President Ram Nath Kovind visited Ayni Air Base, about 15 km west of the Tajik capital Dushanbe, during his October 7–9 trip and signalled India’s interest in expanding its presence there, according to sources. Almost 150 Indian personnel have been posted in Ayni. Kovind met the IAF contingent at the base. |
India established a presence at Ayni in the days following the September 11 attacks and the US campaign in Afghanistan. |
At that time, India operated a hospital at Farkhor on the Tajik-Afghan border, where legendary Afghan political leader Ahmed Shah Masood was treated. |
India, Russia and Tajikistan agreed in 2002 to operate Ayni on a rotational basis once construction work at the air base was completed. The Border Roads Organisation helped to rebuild the airstrip and associated facilities at Ayni. |
With India entering the Shanghai Cooperation Organisation, a Eurasian alliance, and keen on stabilising Afghanistan in collaboration with Central Asian states and Russia besides expanding the counterterror partnership, boosting facilities at Ayni will be handy, experts pointed out. |
Expanding defence ties with Tajikistan was among the talking points during President Kovind’s trip. |
Legendary actress Katharine Hepburn, who won a record four best actress Oscars during her remarkable half-century long career, died Sunday at her home in Connecticut. She was 96. The cause of death was "simply complications from old age," her brother-in-law, Ellsworth Grant, told Reuters. Known as the first lady of Ame... |
"Music helps things; it makes things better. Just like war drags down everything and brings out the worst in human beings, music brings out the best," says the legendary musician. |
Music icon David Crosby's latest album, Sky Trails, includes a track the artist wrote for independent film Little Pink House, which Dada Films opens in April. The movie, starring Jeanne Tripplehorn and Catherine Keener, centers on the Susette Kelo Supreme Court decision concerning eminent domain, a political issue the ... |
The musician caught up with The Hollywood Reporter to discuss his new music, what inspires him in the age of Trump and the possibility of reuniting with his old bandmates, Graham Nash, Stephen Stills and Neil Young. |
Why did you write a song for this particular film? |
My son, James Raymond, and I wrote it after we saw the film, and the guy who wrote the book, Jeff Benedict, is a friend of mine. We were moved by the film. |
What moved you so much that you wanted to write a song? |
With eminent domain, where they take away your property, there’s usually people being paid under the table. They took this woman’s home away from her. It was brutal, underhanded and completely wrong, and everybody knew it. She fought it all the way to the Supreme Court. It was a tough tale to look at. It was a moving t... |
So the movie is about the Kelo Decision. Not surprisingly, it puts you at odds with President Trump, who has said he supports eminent domain. |
He has used it. What a wretched person. The worst kind of landlord; and a racist. He's done a lot of really bad stuff. |
And his election might cause a reunion of Crosby, Stills, Nash & Young? How's that? |
Yes, it might, but we don’t get along, and we haven’t gotten along for a while. They’re all mad at me. But they all dislike Donald Trump very much, the same way I do. We dislike him intensely because he’s a spoiled child who can’t do his job. So a reunion is possible. We don’t like each other, but we like Trump a whole... |
Would a reuniting of the band include Neil Young? |
Well, that’s the only way you could reunite the band, isn’t it? |
I guess so. Why don’t the other members of the band like you? |
There’s a whole variety of reasons. You’ll have to ask them. |
I hear you don’t even want Trump supporters to attend David Crosby concerts. |
Why would you want to alienate some of your customers? |
Because I don’t need them. |
Are you bashing the president at your concerts? |
Yes, but I don’t just bash him; I take him apart and hang him up by his thumbs. I really, really, dislike the guy. But at my concerts I come down pretty hard on most politicians. I have a very low opinion of politicians. |
Who did you support in the presidential election? |
Who do you want to see as our next president? |
Back to the movie. Why should people see it? |
Because it shows how much power is abused. |
Is it entertaining enough to find a wide audience? |
Oh, they did a very good job. The women who made this movie are all very skilled. |
Why do you single out the women involved? |
It’s about a woman, so that’s the lead role, plus most of the leading characters are women and it was directed by a woman. |
What do you want fans to know about David Crosby in the year 2018? |
I’m really very happy right now. There’s only a couple of things that really matter to me: my music and my family. I’ve made three records in the last three years and I’m working on a fourth now. They’re good records. That’s what I should be doing. Whatever time I have left on this planet should be dedicated to making ... |
"Southern Cross" certainly makes me happy. It's my favorite CSN song, followed by "I Give You Give Blind." What's your favorite? |
Truth. Strength. Effect on the country. |
Are there any politically themed songs on your upcoming album? |
I don’t know. I’m writing them right now. |
Conservatives like to bash liberal entertainers who inject politics into their acts, as you do. Any response? |
The real reason they do that is because they’re frustrated that their side doesn’t have any entertainers — at all. They’ve got that one right-wing guy who is so terrible, but I can’t think of his name. All of us think that they’re idiots, and that frustrates the hell out of them. |
So you don’t have much respect for Ted Nugent, for example? |
That’s the guy! How embarrassing is it to have that be your guy? |
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