How to Cancel and Revive California Business Entities
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To cancel your California business license, submit dissolution forms to the Secretary of State (SOS). Use CalGold to find licensing agencies. SOS processing takes around 3-4 weeks.
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To revive a cancelled LLC in California, file Form LLC-12 and possibly Form FTB-3557 with the Secretary of State and Franchise Tax Board. An LLC can be suspended for not filing statements or fees on time.
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To dissolve a C corporation in California, get consent from shareholders, stop operations, pay debts, and distribute assets. File articles of dissolution with the SOS.
Closing a Business in California
- The Secretary of State’s processing times vary based on traffic, but it will probably take their office around 3-4 weeks to process your dissolution. To dissolve, surrender, or cancel a business entity, you’ll have to deal with two agencies, the California Franchise Tax Board and the California Secretary of State (SOS).
1) Vote to close the business. If you’re a sole proprietor this is not necessary because the decision to shut down the business is entirely up to you. If you’re in a business partnership, all or majority of the business associates must agree to close the business.
2) Get consent from shareholders, stop operations, pay debts, and distribute assets.
3) File articles of dissolution with the SOS.
4) To close your sales tax permit, call the state customer center at 1-800-400-7115.
5) To end an LLC, file a certificate of cancellation with the SOS and notify creditors. Cancel relevant licenses, permits, and state tax accounts.
6) Distribute remaining assets.