Thread: Dumb Question
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Old 02-26-2008, 10:43 AM
energized  energized is offline Status: Offline
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Join Date: Feb 2008
Posts: 3
Red face Dumb Question

How do you know if you have actually commenced business? I know this sounds like a silly question, but I need to dissolve a company and I'm kinda stuck.

Let me give you a brief rundown. I got caught up in a preconstruction condo. The real estate agent, guaranteed I would never have to close on it. Well, guess what... I had to close.

The payments, insurance and fees on the condo total about 4K a month. I was concerned I couldn't make the payments and would lose everything. The realtor (bless her crooked little heart), suggested I put the condo in a corporation name. She said that way, they couldn't touch my stuff.

So I opened a one man corporation and put the condo it the corps name. I since found out the corp was NOT the way to go and I could end losing more money in the long run.

My question: Since I put the condo in the company name; is that considered commencing business? I tried to rent the condo, but with the economy like it is, people are setting home instead of vacationing. In otherwords, I haven't made one red cent on the hellish thing.

I need to dissolve the corp and there are different forms depending on whether the corp commenced or not. If it did... I fill out this form, if it didn't... I fill out that form.

Can someone tell me if putting the condo in the corp name, but never generating any revenue, if I commenced business?

Thanks!
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