“Liquidation of a Corporation”

• Jimmy owns a major incorporated (C corporation) sporting goods store, ActiveNow.  He is considering expanding into other locations. Recently, he met Calvin, who is attempting to sell his sporting goods business, MoveIt, in another town. As your client, Jimmy has come to you for advice on the consequences of an asset versus stock acquisition.  Outline the differences for Jimmy and provide him with a recommendation on which you think would be best.