I work for a 501C business,which is closing and liquidating. Can I start my own separate taxable business?

Question by izzy: I work for a 501C business,which is closing and liquidating. Can I start my own separate taxable business?

I have worked for the 501C business for 10 yrs total, 3 in this specific business area. They no longer wish to carry this branch of their association. When they close, I will be fired. Can I start up my own for profit business, with the same business description?




Best answer:

Answer by TIMOTHY D L
Sure, it just won't be a 501C. LLC, or Corporation

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