Your liquidation plan may include tasks like appraising assets, collecting unpaid amounts from your customers, closing open accounts and paying corporate debts.
Depending on the type of business you operate, your corporation may have a large amount of money tied up in non-liquid assets such as real estate, inventory or equipment.
Non-resident aliens and citizens of foreign countries who are not residents are not permitted to own stock in an S corp.
An S corporation is limited to no more than 100 shareholders.
If your corporation does not have enough assets to cover all of your debts, you may need to negotiate a debt settlement with each creditor before your business can close.