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!

I do not have a legal background but one thing you may do is contact the state treasurer or wherever you filed your corporation and ask them. My understanding is to be a legitimate corporation you have to file with the state and get your federal tax id number if you did that there is a record of your corporation.

Thank you for responding. The corporation is documented through the state and has been issued shares of stocks. The corp also has a Fed tax ID. However, to dissolve a corporation, there are 2 options to choose from.

The first option is to dissolve a corp that has not commenced buiness. I think this means: If I haven't conducted any business transaction or recieved any revenue, then I can do the simple form and simply request the state to close the file.

The second option I think means this: If I have completed transactions, produced revenue, or issued stocks to shareholders, I would have to use the long form.

I don't have any stockholders, I never issued the stocks to anyone else, and I have never generated revenue. But the condo IS in the company name...so the state may consider that a transaction, so, I'm not sure. I guess I'll call a real estate attorney and hopefully they can give me some insight on it.

Thanks for you help

Good luck, I am not sure a real estate attorney would be your best option you may want to go to an attorney who is use to forming and disolving corporations

Thanks. I"m going to contact a corporate attorney as well, and see which one will be the best for my situation.