Until you dissolve your business, you're still on the hook for the fees and taxes that come with operating it.
After settling your final bills, formally dissolving lets creditors know your business can't incur future debts.
If you're winding down your company, you also need to dissolve it officially with the state.
It's the form that lets the state know your business is officially dissolving. Articles of dissolution are required for most business types, such as LLCs and corporations. If you have a sole proprietorship—an unincorporated business that you run and own alone—there's no need to file if you stop doing business.
It's important to file articles of dissolution when you end a business or the state will continue to expect the business to meet its legal obligations, such as having licenses, filing reports, and paying business taxes.
You'll still be obligated to file reports, pay taxes, and more. If you don't dissolve and fail to meet those obligations, you could face fines, penalties, and the loss of your personal liability protection.
Before dissolving your business, it's important to consult your operating agreement or bylaws for any guidelines on how to dissolve. You should also notify creditors and pay business taxes you may owe. Once you're ready, you can easily file articles of dissolution with us: answer a few questions online, and we'll create and file your paperwork with the state.
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