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tabat
03-21-2012, 12:01 PM
Hello and thanks in advance,

As a owner of a small business (1 person) if I wanted to leave the country for a few months, since I have incorporated, what are my legal obligations?

I would not have an office or a home (a PO box perhaps and a physical address through a room-mate or friends)?


Anyone? I really do not know who to ask. I get different answers all the time:confused:


Thank you !

Business Attorney
03-23-2012, 05:21 PM
I'm not sure what you are asking. The corporation and you are two separate things. The fact that you are physically out of the country has no direct effect on the corporation. If it has obligations, such as filing tax returns or performing obligations under contracts, those obligations continue.

On the other hand, the corporation can suspend it ongoing operations to coincide with your absence, as long as it doesn't breach any of its pre-existing obligations.

Can you explain what your corporation does and what your concerns are?

tabat
03-24-2012, 06:58 AM
Hi,

As I mentioned I am planning to leave for a while (a few months) but, being a web worker, I can run the business from anywhere so normal operations won't be a problem. So I am just asking about the following:

You say:
If it has obligations, such as filing tax returns or performing obligations under contracts, those obligations continue.

What exactly are those obligations other than tax filing which is done already?


Thanks

tabat
04-13-2012, 01:29 AM
Anyone ? :(

Steve B
04-13-2012, 01:47 AM
I think the answer is the same obligations you would have if you didn't leave the country. You can probably do all or most of them remotely.

Business Attorney
04-13-2012, 05:56 PM
Steve is right. All I meant is that your absence doesn't suspend any obligations like tax returns, annual reports to the secretary of state, etc... If you provide services and you agreed to perform certain services for a specified period, unless your contract gives you the right to get out, then you still need to make sure the services are uninterrupted during your absence or you will be in breach of your contract.