dissolution
What to do when you want to close your business?
A corporation or LLC can come to a place of dissolution for several reasons. It can simply be a decision you’ve made for your company because it is no longer successful, you are moving on to a new adventure or your shareholders wish to dissolve its assets. This will, fortunately, stop the necessary tax filings and other requirements that come with having a record of operation on file with the secretary of state. But, the emotional decision to dissolve your company can be tough at times, if you put your heart and sweat into building your own business.
Allow LaunchThatBrand.com to ease the burden by doing the dissolution paperwork for you.
If you would rather do the paperwork yourself, you can find it here.
How to Close an LLC or Corporation
A company begins with Articles of Incorporation when it is formed, therefore it makes sense that Articles must be filed to dissolve a company that has been in operation. Without filing the proper paperwork, the business owner will continue to be liable for taxes and other state requirements. Fortunately, closing a company is really a matter of paperwork.
Business dissolution is primarily an act of filing Articles of Dissolution with your secretary of state. However, if a business is not in a sound position with the state to dissolve, other legal matters may complicate the process.
Steps to Dissolving Your LLC or Corporation
01. Hold a meeting with the Board of Directors
02. File the Articles of Dissolution
The paperwork must be completed and signed by the Registered Agent of your company. You will be issued a Certificate of Dissolution that formalizes the termination of business activity in your state. Once dissolution is properly documented, all branches in other states will automatically be dissolved as well. The dissolution of a company must take place in the state where incorporation took place.
03. Notify the IRS
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