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When a business changes ownership and the employees are retained after the transfer, do the employees have to be reported as New Hires?

April 26, 2017Business changes employees hires ownership reported transfer

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When a business changes ownership and the employees are retained after the transfer, do the employees have to be reported as New Hires?

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Employees that are retained after a business changes ownership are not considered to be New Hires; therefore, they are not required to be reported under the new business. However, if the new business is a corporation, the corporate officers and any other newly hired employees must be reported.