Dissolution
Streamline Business Closure
Are you ready to close your business chapter? Eco-fyle is here to guide you through the process, ensuring a smooth and worry-free dissolution. Avoid unnecessary penalties and fees, and let our experienced team assist you in ending your liability.
Why You Need to Dissolve Your Business
Closing Your Business
Whether your business has fulfilled its mission or it’s time to embark on a new journey, dissolving your business allows you to formally close this chapter, ensuring you’re not tied to any ongoing obligations.
Simplify Your Tax Matters
Continuing to operate a business that no longer serves its purpose can lead to unnecessary tax complications. Dissolution helps you untangle tax obligations and frees you from future liabilities.
Protect Your Personal Assets
Without proper dissolution, you might remain personally liable for business debts and legal issues. Dissolve your business to safeguard your personal assets and financial security.
Compliance and Peace of Mind
Avoid fines, penalties, and legal headaches by complying with state requirements. A formal dissolution ensures you’ve tied up all loose ends, giving you the peace of mind to move forward confidently.
Why is Proper Dissolution Important?
Reliable, Simple Solutions You Can Count On
Your business journey began with Articles of Incorporation, and it should end with Articles of Dissolution. This critical step ensures the responsible closure of your business, and neglecting it can have significant consequences.
Fortunately, the process for proper dissolution is straightforward, and Eco-fyle can help. All it takes is filing Articles of Dissolution with your state’s secretary of state’s office. By doing so, with our assistance, you protect yourself from the risk of prolonged obligations, legal complications, and financial liabilities, allowing you to move forward confidently with your future endeavors.
Why choose Eco-fyle?
Count on Eco-fyle to simplify your business closure process and protect your financial future.
Personalized Support
At Eco-fyle, we understand that every business is unique. We provide personalized support tailored to your needs, ensuring efficient paperwork management. Focus confidently on your core activities.
space
Efficiency & Savings
Your time and resources matter. Eco-fyle streamlines processes, saving you time and money. Let us handle the paperwork efficiently, so you can invest in your business’s growth.
space
Accuracy Assurance
Precision is our priority. Our team ensures each report is filed with accuracy. With our satisfaction guarantee, navigate changing regulations with confidence. Eco-fyle has your compliance covered.
space
Frequently Asked Questions
Need some help with a question? Click below to see if we’ve already answered it. If you still can’t find an answer to your question schedule a consultation or email us at info@eco-fyle.com.
Articles of dissolution or cancellation document are filed with the Secretary of State to dissolve/terminate your LLC or Corporation.
Your Step-By-Step Guide to Dissolution
- Meet With Your Board of Directors -hold a meeting with other owners to vote or agree on business dissolution. If your business is a corporation, shareholders must approve the decision to file a dissolution before you can close your business. You will want to host a meeting to take a vote on dissolving your company. Record the voting process and if you reach a majority decision in the affirmative, and documentation is signed by all owners, you are ready to move on to step two.
- File the Articles of Dissolution – file the articles of dissolution with the domestic and any foreign secretary of state
- Notify the IRS and State Tax Dept.- Pay taxes due and file final income tax, payroll tax, or sales tax returns. As your final and arguably most important step, informing the IRS of your dissolution will make the process official. You will need to pay all federal and state taxes at this time as well in order to receive consent.
- Notify Creditors – notify creditors that your business is closing and resolve debt obligations
- Cancel Registrations – Cancel registrations, permits, licenses, business names, and EIN
- Distribute Assets – the remaining business assets to the company owners
Failure to dissolve the business legally means you will continue to be liable for taxes and state filing requirements, regardless of whether or not your business still exists.
Your company must be in good standing in order to file for dissolution. In this case, being in good standing means you are up to date on your taxes and annual reports. In the event that these are not completed, you will need to do so before filing for a dissolution.
Fees vary by state, but our team can help you find this information. Additionally, our services will cost the same in all states.
Make sure you pay all outstanding tax obligations, debts, and close your business bank accounts. If you are operating in multiple states, you’ll also need to file paperwork to withdraw from each. Of course, you will also need to notify your employees, and liquidate any remaining assets.
Need additional assistance?
The team at Eco-fyle is eager to meet you and help you pursue your goals of
incorporation. Request a consultation with one of our specialists!