How exactly does the process of selling ones business work? For those of those who've sold your business. I'm sure its more complicated than buying a candy bar. My questions basically are
1. If you are a sole proprietor, LLC, or C/S Corp, how much of the sale actually goes to you? Excluding taxes being taken out.
2. How are you taxed on the sale? By normal income tax or sales tax? Are there ways to reduce that tax?
3. Is it possible to make the buyer pay the taxes as well as the selling price?
1. If you are a sole proprietor, LLC, or C/S Corp, how much of the sale actually goes to you? Excluding taxes being taken out.
2. How are you taxed on the sale? By normal income tax or sales tax? Are there ways to reduce that tax?
3. Is it possible to make the buyer pay the taxes as well as the selling price?
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