Dissolving a Business

Dissolution is the process of voluntarily ending your business.

Deciding to end a business can be a stressful and overwhelming process, but it’s important to complete the necessary steps to dissolve the formal business entity as it lets the state (or states) know your business is no longer active. Each state has different regulations but failure to dissolve can lead to state penalties and fees. Dissolving your company is a multi-step process that includes obtaining owner/shareholder approval, filing the dissolution certificate, and filing federal, state and local tax forms.

For an overview on the six common steps to dissolving your business read: How to End Your Business.