Dissolution is the termination of a corporation, either
- voluntarily by resolution, paying debts, distributing
assets and filing dissolution documents with the Secretary of State; or
- by state suspension for not paying corporate taxes or some other action
of the government.
There are six primary steps involved when dissolving a company. They are:
- Corporate action to approve the dissolution
- Filing articles of dissolution with the state
- Filing all necessary federal, state, and local tax forms
- Statutory notification to creditors
- Settling creditors' claims
- Distribution of remaining business assets
Relevant legal forms include:
For-Profit Corporations Articles of Dissolution
Letter - Dissolution of Corporation
Dissolution of Lien -- Corporation
Dissolution (Dissolve) Package for Corporation
