Liquidating sale california
Appraisal service specialties, Antiques, Art, contemporary and collectables, Farm equipment, IRS, Insurance, Estate planning, Bankruptcy, All consultations are confidential and at no cost to you.Based on the quantity available, the mix of products and the desired recovery, it can be worthwhile to sell the liquidation lot in small quantities to many buyers until it sells out.We were delighted with the care and attention we were given.We always felt as if we were getting the highest service and attention.Company management, however, was blissfully unaware of this development and continued to file the business’s federal corporate income tax return and pay all federal income taxes.
At first we were apprehensive about choosing a liquidator from the internet.At issue is whether the company’s status as a corporation had been terminated by the administrative dissolution. Something else to consider is that under Section 336(a) of the tax code, a gain or loss is recognized by a liquidating corporation on the distribution of its property in complete liquidation, as if such property were sold to the distributee at its fair market value. 142 ) states that “…where a corporation ceases business operations, has retained no assets, has no income, and has actually liquidated, there is in effect a de facto dissolution, even though the corporation has not been formally dissolved…” In addition, it is entirely possible for the corporation to continue in existence even though it has been, as a matter of state law, dissolved.If it is considered terminated, the company would have been viewed as having completely liquidated, and both it and its shareholders would have experienced the tax consequences attendant to the situation. In other words, in most cases, the liquidation of a corporation commonly engenders two levels of taxation: tax will be imposed at both the corporate and distributee shareholder levels.* The De Facto Company Closure A complete liquidation is not always accompanied by a formal or legal company shutdown. Thus, unless dissolution brings about an automatic transfer of the corporation’s assets to its shareholders, the corporation, even though dissolved, continues its existence.Dan and Susie, the owners, are uniquely qualified providing multiple levels of liquidation services including Estate Sales, Auction Sales, purchase of one item to complete estates, online sales support, market time management.Other specialties include collection liquidation, if you or a family member have been collecting specialty items such as Art, Glass, Toys, Guns, Silver, or just general collecting then you’ll want to call Dan to discuss all your options.
You ship the goods to the Via Trading facility where they are processed into small lots and sold by the case or pallet to hundreds of buyers. Certain types of products may be most appropriate for liquidation through Via Trading’s monthly live auctions.