CORPORATE DISSOLUTION AND WITHDRAWALS

You may encounter additional hurdles when filing a dissolution or cancellation to wind down a corporate entity. In some states, you must first obtain a tax clearance certificate to submit with the articles of dissolution. Also, some jurisdictions require you to publish the cancellation in a newspaper of general circulation in the county of the known place of business, and submit an affidavit of the publishing to the state office with the articles of dissolution. If the entity has lost good standing due to a missed compliance filing, the state may require you to bring the entity back to good standing before you can submit the articles of dissolution.

There are three steps to dissolving your business. You must follow these steps precisely to ensure compliance and proper closure:

1. Voting on the dissolution: To begin, shareholders and your board of directors must vote on whether a dissolution is logical. Only after a majority vote for dissolution has been approved can a company take the next step. Rules on vote and action vary by state, so be sure to comply with the state's rules.

2. Preparing all documentation to meet state requirements: CSC will prepare all documentation to meet state requirements.

3. Filing a Certificate of Dissolution: You'll need an official Certificate of Dissolution for each state in which the entity is qualified to do business. Once the documents are submitted, we'll provide you with your official dissolution documents.