If you’re going out of business, you’ll need to formally dissolve your business entity. The technical name of this process is called dissolution. It is a natural part of winding down any business entity whether it is a corporation or LLC. Below, you’ll find the step you need to take to dissolve your business entity in any state.
When it’s time to wind down your business or close the doors, the last thing you will want to do is file a form with the state and pay a filing fee. However, if your business is no longer active in a state for any reason, it’s crucial to formally dissolve the entity. Some states may administratively dissolve the company as part of a routine with no consequence to the business owner, but many states do not. In many states, even if a business is not actively engaged in business, if the LLC or corporation hasn’t been dissolved, it will accrue fees and fines for not filing annual reports and paying late fees. These will register as outstanding debts and will be sent to collections. At that point, the business owner’s LLC or corporation would be inactive and the limited liability the entity provided would be null and void, likely leaving the business owner personally responsible for those debts. This could lead to hundreds, if not thousands, of dollars of personal debt.
To dissolve an Alaska LLC or Alaska corporation, you'll need to provide the following:
Fastest way to file: Alaska Articles of Dissolution must be filed in person or by mail. In person will be much faster. Otherwise the filing with take one to two weeks to be completed.
Entity Type | Dissolution Form | Filing Fee |
---|---|---|
LLC | LLC Articles of Dissolution | $25 |
Corporation | Corporation Articles of Dissolution | $15 |
To dissolve an Alabama LLC or Alabama corporation, you'll need to submit articles of dissolution (one original and two copies) to the probate judge in the county where your incorporation was recorded. The articles of dissolution must include:
Fastest way to file: Alabama Articles of Dissolution must be filed with the probate judge in person or by mail. Usually the dissolution is processed in about a week. Filing times really depend on the probate office. Once the judge of probate completes the certification of the articles, they forward one copy to the Secretary of State and one copy to you.
Entity Type | Dissolution Form | Filing Fee |
---|---|---|
LLC | LLC Articles of Dissolution | $100 Secretary of State Fee $50 (approximately) Probate Judge Fee |
Corporation | Corporation Articles of Dissolution | $100 Secretary of State Fee $50 (approximately) Probate Judge Fee |
To dissolve an Arkansas LLC or Arkansas corporation, you'll need to submit articles of dissolution to the Arkansas Secretary of State. The articles of dissolution must include:
Fastest way to file: Articles of Dissolution are processed within 2 business days.
Entity Type | Dissolution Form | Filing Fee |
---|---|---|
LLC | Articles of Dissolution | $50 by mail $45 online |
Corporation | New Code Articles of Dissolution Old Code Certificate of Dissolution Articles of Dissolution by Incorporators or Initial Directors |
$50 by mail $45 online |