C-corp change owners

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Three partners formed a c-corp and we would like to reduce number of partners and I would like to be sole owner for this c-corp.  Other partners are on board with this.  

-Can you please advice how to proceed with this
- Do we need to notify respective state and IRS, if so is there a form that we need to fill in

TIA

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xad said:   Three partners formed a c-corp and we would like to reduce number of partners and I would like to be sole owner for this c-corp.  Other partners are on board with this.  

-Can you please advice how to proceed with this
- Do we need to notify respective state and IRS, if so is there a form that we need to fill in

TIA

  If you want to be the sole owner, you just need to buy all the outstanding shares of stock.

Glitch99 said:   
xad said:   Three partners formed a c-corp and we would like to reduce number of partners and I would like to be sole owner for this c-corp.  Other partners are on board with this.  

-Can you please advice how to proceed with this
- Do we need to notify respective state and IRS, if so is there a form that we need to fill in

TIA

  If you want to be the sole owner, you just need to buy all the outstanding shares of stock.

  Any forms to fill from State or Fed perspective or just mutual understanding between partners?

xad said:   
Glitch99 said:   
xad said:   Three partners formed a c-corp and we would like to reduce number of partners and I would like to be sole owner for this c-corp.  Other partners are on board with this.  

-Can you please advice how to proceed with this
- Do we need to notify respective state and IRS, if so is there a form that we need to fill in

TIA

  If you want to be the sole owner, you just need to buy all the outstanding shares of stock.

  Any forms to fill from State or Fed perspective or just mutual understanding between partners?

  There's no "mutual understanding", you need to actually buy their shares.



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