The dissolution of a business is the process by which a company is legally dissolved. This means its property and assets are sold, its debts paid to the extent of assets available, and any remaining cash is distributed to the business organization’s shareholders, members, or partners.

The process can be complex depending on the circumstances leading up to the dissolution. 

Among the federal requirements for business, dissolution is the final corporate tax return and the final employment tax returns including deposits of any monies owed. Reports that need to be filed include information about the proper disposal of business property, any like-kind exchanges of property, and information about changing the form of the business if that is the case. Additionally, there are state and local requirements.

We can assist you with the dissolution of legal partnerships, corporations, and LLCs. Businesses dissolve for various reason, including but not limited to, retirement, business succession, career change, mergers and acquisitions, loss of capital or financial backing, misconduct, partner and shareholder agreement to disband, and more.

We will help you assess your options so that you can make your decisions with minimal financial and emotional effects.