Steps to Dissolve a Corporation in Indiana
- File Dissolution Paperwork
- Fulfill Tax Obligations
- Cancel Licenses and Close Accounts
To dissolve your LLC in Indiana, follow these steps:
- Submit one original and one copy of the Indiana Articles of Dissolution (Form 49465) to the Indiana Secretary of State by mail or in person.
- Articles of Dissolution can be filed online if you pay using an IN.gov payment account or a credit card.
Certificate of Existence in Indiana
To obtain your certificate of good standing in Indiana, request it from the Secretary of State.
Key Considerations for Dissolving an LLC in Indiana
- Dissolve your LLC in compliance with Indiana state law and your LLC’s operating agreement.
- This process releases members from legal and financial liabilities of the business.
Dissolving a Corporation in Indiana
Follow these steps to dissolve a corporation in Indiana:
- File Articles of Dissolution with the State
- Resolve Business and Financial Affairs
- Pay Creditors and Distribute Assets
- File Final Tax Returns
Ways to Terminate a Corporation
Three ways to voluntarily wind up and dissolve a corporation are:
- Shareholder Action
- Board Action
- Filing for Bankruptcy
Reasons for Dissolution
Reasons for voluntary dissolution include bankruptcy, loss of profits, or investing elsewhere. This process usually involves shareholders assessing the company’s usefulness.
After Dissolution
Appoint a liquidator to sell assets, pay creditors, and distribute remaining assets to shareholders. The best way to end a corporation is through dissolution, where all financial matters are resolved.
Legal End of a UK Business
To legally end a UK business, follow these procedures:
- Check eligibility
- File necessary paperwork
- Close accounts
- Publish a dissolution notice
Solvency and Dissolution
Directors of insolvent companies must ensure all creditors are paid within 12 months of dissolution to prove solvency and prevent objections from being raised.