If you have an existing business, then its assets and contracts should get transferred to your corporation. This can look like an assignment, or a bill of sale. There are tax considerations regarding contribution of the assets of your existing business. You may also need to notify third parties, such as vendors and landlords. A stitch in time, as they say. Paperwork is king.
I just put my business into a corporation/LLC. Do I have to file paperwork for that?
About the Author: David Herzog
Since 1993, I have represented hundreds of businesses and individuals in a variety of industries. Small business legal advising . . . that's my thing.