Closing Procedure for a Maryland Corporation
To close your unemployment tax account, call 410-949-0022 (Central Maryland) or 1-800-827-4839, Monday-Friday from 8:30 a.m. – 4:30 p.m. Visit the Department of Assessments and Taxation website to close your corporation.
- Verify Business Status
- Obtain a certificate of good standing from the Department of Assessments and Taxation website by name or ID number.
- Filing Articles of Dissolution
- Submit articles of dissolution by mail or in person.
- Allow a few weeks for processing the certificate of dissolution.
- Notify Relevant Parties
- Notify partners and creditors in writing of your intent to dissolve.
- Record-Keeping and Compliance
- File a final tax return with the Comptroller’s Office.
- Cancel state and local licenses and permits.
Dissolution and Termination Procedures
Between filing articles of dissolution and termination, members can file paperwork with the State Department of Assessments and Taxation. Processing dissolution filings normally takes up to 8 weeks, or 7 business days with a $50 expedited fee. A vote based on the procedure in the operating agreement is required to approve dissolution if multiple members exist.
Handling a Corporation Closure
Contact the Maryland State Department of Assessments and Taxation before filing paperwork to dissolve your corporation. Ensure first that all property tax returns are current and no fees are owed. If not, submit articles of revival. Then file for dissolution once accounts are in order.