Are High Net Worth People Leaving Illinois?

Business Law News, Churches, hard times, Illinois, neighbors, retirement

The Illinois Policy Institute has examined IRS data, and thinks this is a problem. Texas and Florida appear to be prime destinations, see https://www.illinoispolicy.org/reports/irs-data-show-continuing-illinois-wealth-flight/ The real problem appears, however,  to be attraction of new residents, since an aging population moving to warmer climates may have nothing to do with tax burdens, see https://www.chicagotribune.com/news/ct-census-illinois-population-trend-leavers-met-20190925-55e2uha64rardg7pa5734u6twu-story.html Past increases in…

Filings Required To Close Out An Illinois Business Entity

entity dissolution, federal forms, forms, government agencies, LLC, resignation, retirement, small business, Uncategorized

Just posted on Slideshare a detailed checklist of business actions, federal and state income and UI and sales tax forms to file, and entity-specific forms to file with the Business Services Division of the Secretary of State in order to close out an Illinois business entity. For details, see http://www.slideshare.net/wpriceiit/filings-required-to-close-out-an-illinois-business-entity

Buy-Sell Agreements

business deals, business divorce, business sale, business valuation, buy-sell agreements, corporation, corporation law, death, disability, divorce, entity dissolution, family business, Illinois corporations, key man insurance, LLC, mergers acquisitions recapitalization, partners, resignation, retirement, small business, Uncategorized

There are two times that business partners argue: when they have money, and when they don’t. Those alternatives cover all available time segments, so if you’re advising people on how they should organize their business, some rules for the arguments may be in order. The classic horror story about such arguments is the Illinois appellate…