The dissolution of a business is the act of ending the business. If you have a corporation or limited liability company, you need to officially dissolve your entity so that you are no longer liable for business taxes or filings in your state. Officially dissolving your business also puts creditors on notice that your entity can no longer incur business debts.

Step 1: Review organizational documents and business law for dissolution requirements and procedures

Step 2: Hold a shareholders meeting to vote on the dissolution

Step 3: Finalize company financial statement. Collect outstanding Account Receiveable (AR), make payments to Account Payable (AP) and distribute all assets

Step 4: File dissolution with Secretary of State

Step 5: Notify IRS, State, other government agencies and file final return

  • IRS
  • Income Tax
  • Sales Tax
  • Employment Tax
  • Terminate Business License and Permits
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