Asset deal to-do list

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August 06, 2020

by a searcher from Harvard University - Harvard Business School in Chicago, IL, USA

Does anyone have an asset deal to-do list? A stock deal is pretty straight forward but with an asset deal, I want to make sure I have all my infrastructure set up before closing.

Thanks!

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commentor profile
Reply by an investor
from University of Pennsylvania in New York, NY, USA
Some things that come to mind include bank accounts, corporate credit cards, property and casualty insurance, employment offer letters, foreign qualifications for states, unemployment registration, withholding tax registration, sales tax registration, payroll (potentially with same provider), notifying customers, notifying some vendors. Depositing checks in transit and requesting customers to change names on the checks was a real hassle.
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Reply by a searcher
from The University of Chicago in San Francisco, CA, USA
Hi Kyle, I don’t have a to do list, but I would say an important thing is to make sure you know the requirements to be able to set up payroll in your state (I’m in CA). It took us 3 weeks for our payroll provider to switch to the new entity and new bank account because we needed a state business ID that took a long time to get.
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