{"id":125,"date":"2006-06-03T23:49:58","date_gmt":"2006-06-04T03:49:58","guid":{"rendered":"http:\/\/www.incorporateyourbusiness.info\/chap9\/"},"modified":"2006-10-15T15:41:05","modified_gmt":"2006-10-15T19:41:05","slug":"chap9","status":"publish","type":"page","link":"https:\/\/www.avivadirectory.com\/incorporate\/chap9\/","title":{"rendered":"Corporate Closure"},"content":{"rendered":"

1.\u00c2\u00a0 Introduction<\/a> – People make the decision to close their businesses for a variety of reasons: market changes, financial problems, and lifestyle conflicts. Making the decision to close down your corporation is difficult enough, no matter what your reason is.<\/p>\n

2.\u00c2\u00a0 Vote To Close Your Corporation<\/a> – Your business associates must agree to dissolve the entity by following either the procedures set out in your organizational documents or the rules set out in your state’s business statutes. Make sure that you have your Secretary available to officially record the decision.<\/p>\n

3.\u00c2\u00a0 Collect Monies Owed to the Corporation<\/a> – If you have outstanding receivables, it\u00e2\u20ac\u2122s a good idea to try and collect on them before you legitimize your closure. There is very little incentive for your debtors to pay when they know you\u00e2\u20ac\u2122ll soon be out of business.<\/p>\n

4.\u00c2\u00a0 Make Sure Your Comply With Sales Laws<\/a> – If your corporation was retail, wholesale, or manufacturing, you may need to comply with your state’s “bulk sales law.” Only ten states have these laws, so check with your corporation commission to find out if you need to do this.<\/p>\n

5.\u00c2\u00a0 Pay Any Outstanding Taxes and Debts<\/a> – Before you notify anyone of anything, make sure that you have planned to pay your final payroll tax deposits and other outstanding debts to the government.<\/p>\n

6.\u00c2\u00a0 Notify the Government<\/a> – You\u00e2\u20ac\u2122ll need to go through the official channels to dissolve your corporation. Find out if you need to file a “tax clearance” or other appropriate forms by contacting the agency that handles corporations.<\/p>\n

7.\u00c2\u00a0 Notify the Corporation’s Creditors<\/a> – Now that you\u00e2\u20ac\u2122ve assured you have covered all regulatory avenues, it\u00e2\u20ac\u2122s time to dig into your pockets and pay off whatever debts you can and close them out from under your business name.<\/p>\n

8.\u00c2\u00a0 Prepare to Close Down Shop<\/a> – It\u00e2\u20ac\u2122s time to let the world know that you\u00e2\u20ac\u2122re going out of business. Who should you contact and what information do they need?<\/p>\n

9.\u00c2\u00a0 Keep Your Paperwork Trail and Be Reachable<\/a> – Former employees, vendors, and clients may still need to get in touch with you for a myriad of reasons, so it\u00e2\u20ac\u2122s best to not burn any bridges in the process. Make sure you continue to update people of your whereabouts.<\/p>\n

10.\u00c2\u00a0 Business Dissolution Paperwork Checklist<\/a> – You\u00e2\u20ac\u2122ll want to make sure you keep accurate and complete business records when you choose to dissolve your corporation. This checklist will help you get things in order and create a bulletproof paper trail.<\/p>\n

11.\u00c2\u00a0 Business Dissolution Paperwork Checklist – Part 2<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

1.\u00c2\u00a0 Introduction – People make the decision to close their businesses for a variety of reasons: market changes, financial problems, and lifestyle conflicts. Making the decision to close down your corporation is difficult enough, no matter what your reason is. 2.\u00c2\u00a0 Vote To Close Your Corporation – Your business associates must agree to dissolve the […]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"open","ping_status":"open","template":"","meta":[],"_links":{"self":[{"href":"https:\/\/www.avivadirectory.com\/incorporate\/wp-json\/wp\/v2\/pages\/125"}],"collection":[{"href":"https:\/\/www.avivadirectory.com\/incorporate\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.avivadirectory.com\/incorporate\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.avivadirectory.com\/incorporate\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.avivadirectory.com\/incorporate\/wp-json\/wp\/v2\/comments?post=125"}],"version-history":[{"count":0,"href":"https:\/\/www.avivadirectory.com\/incorporate\/wp-json\/wp\/v2\/pages\/125\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.avivadirectory.com\/incorporate\/wp-json\/wp\/v2\/media?parent=125"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}