Liquidating s corp
If you find yoursef in this position, there are a couple of routes you can take: Once you're done selling your business assets, if there is money left over after paying off your creditors, be sure to follow the rules for making a final distribution of cash to yourself and any other owners.
Dissolving an S Corp requires several steps, including stopping business operations and liquidating assets.
If you have numerous assets with significant value, contacting a business broker or professional liquidator might be a good idea.
Don't expect to get more than 80% of an assets value, at most.
You will also need this information for your tax returns.
Next you'll want to find buyers for property that is fully paid for and that you have not pledged as collateral for another loan.