USA Company Dissolution – Closing a USA Company
If you no longer require your company and wish to have it struck off the company register we can assist you with a USA Company Dissolution.
We draft your dissolution paperwork and take care of officially dissolving your USA company in the State.
Irrespective of the reason why your are dissolving your company, it is very important to take the necessary steps to dissolve the company correctly, don’t just leave it and walk away.
As a Director you need to comply with regulations as well as protect yourself from potential risk and fines.
USA Company Dissolution fees
- Company Search – $56 – £40
- Our Service fee – $450 – £400
- State filing fee – Business Entity Tax for current year (variable) – Delaware from $300
- Business Entity Tax for the previous year (variable) – where owed
- State filing fee – filing fee for the Certificate of Cancellation – Delaware $200
- Expedite fee – $85 – £75
USA Company Dissolution Timescales
The company dissolution in the USA States takes a week, although a couple of States take 3-4 weeks and may require proof that taxes have been paid.
Our Dissolution Service fee includes
- Check the current status of the company with the State
- Draft your dissolution documents and State forms
- Preparing the Articles of Dissolution or Articles of Cancellation
- Advising you on the State agency fees final taxes owed
- Providing you with the completed dissolution documents
Dissolution process in the USA
Once you have decided to dissolve your USA corporation, we can assist you with formally closing your company. The dissolution process is –
- Meeting of the Board of Directors who pass a resolution to dissolve the company
- Meeting of the shareholders who resolve to dissolve the company
- File final tax returns – State and Federal
- Liquidate your USA company’s assets
- Close your business bank accounts
- File a Certificate of Dissolution with the State Department
Benefits of Dissolving your USA Company
Having your USA company voluntarily dissolved rather than struck off by the Secretary of State, has many advantages:
- Straightforward process compared to company liquidation
- Avoids formal investigation into the conduct of the directors as required in liquidation or receivership
- Maintains the company’s officers and shareholders reputation for future business ventures
- Avoids the costs of liquidation, fees and expenses
Dissolving a Corporation or LLC
A Corporation dissolution or an LLC cancellation is the formal closure of your company.
Dissolutions requires Director or Shareholder approval prior to filing and the company must be up to date with all taxes and all annual reports filings with the state.
Once your dissolution is approved, you may also need to file a form 966 Corporate Dissolution or Liquidation with the Internal Revenue Service.
Without a formal dissolution, your company remains active in the state, even if you are no longer doing business and therefore subject to all annual reporting fees and corporate tax payments.
Registered in other USA States
If you have registered to transact business (foreign qualified) in a State other than your State of incorporation, you need to dissolve in the State of incorporation and the States of qualification.
Please complete our questions below so we can help you file the necessary paperwork to formally dissolve your USA company.