How Do I Dissolve an Incorporation?

Completing the "Winding Up" Process
- Notify the IRS of dissolution.
- File necessary paperwork with the state.
- Pay outstanding debts and liabilities.
- Distribute remaining assets to shareholders.
- Ensure corporation dissolution with the New Jersey Department of Treasury to avoid ongoing fees and penalties.
Dissolving a Nonprofit Corporation in New Jersey
- Notify the Attorney General’s office.
- File a Certificate of Dissolution with the Division of Consumer Affairs.
- Take steps to avoid ongoing fees, taxes, debts, and obligations of the business.
Revoking the Dissolution of a Corporation
- Within 60 days, file a Certificate of Revocation with the division.
- Make sure the corporation is in good standing before dissolving.
- File any late annual reports before dissolution.

Legal Closure Process
- Submit all required tax returns and pay due taxes and fees.
- Pay off business debts.
- Document board decision for dissolution.
- File Articles of Dissolution with the Secretary of State.
- Notify IRS of dissolution on Form 966.
- Sell assets to pay creditors.
- Follow company bylaws for closure execution.
Financial Closure Tasks
- Collect outstanding payments from customers.
- Create an exit strategy addressing all closure steps.
- Report final employee taxes and issue W-2s.
- Send 1099 forms to contractors paid over $600.
- Adhere to the IRS closing a business checklist.

Filing a Certificate of Dissolution
- File with the Secretary of State in Washington.
- Processing time is typically 2 weeks (by mail) or 2-3 days (online).
- Filing fee is $180 by mail or $200 online.
- Assess debts and finances before closing to improve profitability.
- Notify all stakeholders, sell assets, pay debts, and file final tax paperwork.