When a company has ceased operations or is no longer needed, it is important to formally close the entity with the appropriate state filing office. Dissolution is the process of terminating a company’s legal existence in its state of formation.
A company may be dissolved for several reasons, including a voluntary decision by the owners, the completion of a specific business purpose, failure to file required reports, failure to pay required taxes or fees, administrative action by the state, or other business circumstances.
If a company is registered to do business in states outside its state of formation, additional filings may also be required in those foreign qualification states. These filings may be referred to as withdrawals, cancellations, terminations, surrenders of authority, or similar names, depending on the state and entity type.
Before filing for dissolution or withdrawal, a company may need to address certain internal and external matters, such as obtaining owner approval, resolving outstanding debts and obligations, filing final tax returns, cancelling licenses or permits, closing tax accounts, and distributing remaining assets as required by law.
Accumera LLC can assist with preparing and filing dissolution documents in the state of formation and, where applicable, withdrawal or cancellation filings in states where the company is foreign qualified. We assist with filings for corporations, limited liability companies, nonprofit corporations, and other business entity types.
Contact us now to place your order or for more information on the process.
