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 IncFile.com to ease the burden by doing the dissolution paperwork for you
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.
In order to properly close a corporation or LLC that is no longer transacting business, the company must file Articles of Dissolution with the state of incorporation. Neglecting to file Articles of Dissolution for a company that is no longer active may expose the corporation or LLC to unnecessary recurring fees or taxes.
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.
There are three key steps to dissolving a company. IncFile completes these steps in a timely manner on your behalf, making an otherwise cumbersome process simple and stress-free.
An additional step often recommended at this point is the closing of all credit lines and accounts that pertain to your business. Letting your creditors know that you have dissolved a company will set you up for more favorable circumstances should debt still be present. Finally, if you have any fictitious names in other states, you'll want to cancel those as well.
Requirements to file Articles of Dissolution:
The company must be in good standing with the state of incorporation and cannot be in arrears of franchise taxes or annual reporting requirements. In the event that the entity is not in good standing reinstatement would be required in order to proceed with the dissolution.
As your business grows we'll be there every step of the way to make sure that you have the
resources at hand to service your companies ongoing needs.