12pm Eastern Time
If you own a corporation that carries on an active business, you may be in a position at some point to consider the sale of your business. The asset sale versus share sale decision requires consideration of many tax and non-tax issues. However, tax will generally play a significant role in the decision.
Many sale transactions are structured around the vendor’s ability to claim the $800,000 enhanced lifetime capital gains exemption in respect of the disposition of shares of a qualified small business corporation (“QSBC shares”). In either case, whether on a sale of shares or assets, there are opportunities for the vendor to minimize tax, such as taking a reserve on capital gain if the sale price is not paid in full upon closing.
Some other tax tips will be discussed, such as incorporating your business before its sale and things to watch out for when considering the transfer of your business inside of you family. Your questions regarding practical considerations that can be encountered will also be answered, such as what to do with current financings, the seller’s responsibility after the sale, the due diligence process, etc.
Stavros will address the legal aspects of business transition, such as preliminary documents including non-disclosure agreements, due diligence, fiscal planning, negotiations regarding guarantees, declarations and warranties, preparation of sale, financing and guarantee agreements, corporate documents and possible implications of an existing shareholder agreement. You will learn about the essential legal documents related to the sale of a business; how to prepare and respond to due diligence requests; and how to prepare for negotiations with a potential buyer.
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Format:
12:00 - 12:05 pm | Welcome
12:05 - 12:45 pm | Presentation
12:45 - 01:00 pm | Questions & Answers
Guest Speakers:
Simon Chouinard
Partner
DS Welch Bussières
Simon Chouinard began his career as a tax and public finance expert handling assignments with High Officials and Tax Authorities in Madagascar, Algeria, Senegal and many Countries in the Caribbean.
In 2006, he joined a national accounting firm providing company owner-managers services such as tax planning and corporate reorganization. He also practiced in the field of incorporation of professionals, trusts, estate planning and real estate taxation. He joined DS Welch Bussières in 2012.
Stavros Rilling
Associate
DS Welch Bussières
Stavros’ practice focuses on corporate and business law, commercial litigation and intellectual property. He works in matters such as the incorporation of new businesses and corporate structures; the development and implementation of professional and non-professional corporate structures; corporate reorganization, mergers, acquisitions and sales in various sectors; management buyouts; shareholder disputes; corporate financing and guarantees, and the protection of intellectual property. Stavros joined DS Welch, Bussières in 2011, and was called to the Quebec Bar in 2012.
For more information:
Mary Sicoli, Webinar Coordinator
CEDEC
(514) 903-3753 (ext. 221)
mary.sicoli@cedec.ca