While making notes for myself I thought I’d share them with the world. This is by no means an authoritative list so refer to it “at your own risk.” Hope it helps!
It’s important to have everything done before the end of the year to avoid paying tax etc. in the following year.
- Send dissolution form along with franchise tax form and check to Delaware
- Send corporate cancellation form to my state
- Refer to IRS business dissolution checklist
- Cancel bank accounts
- Cancel credit cards
- Update all automatic revenue accounts to remove corporation and/or change to new legal status and direct deposit (e.g. AdSense, affiliate programs, etc)
- Update credit cards that have automatic payment on all accounts (hosting, domains, email marketing etc)
- Send notice to registered agent that dissolution has occurred (and try to do this before you pay for your next year’s representation of course)
- Look into liability insurance and/or cancel corporate insurance
- What else?
Website Changes
- Update website terms of service
- Update login page to note that the terms of service was changed
- Email website members/users if need be
Tags: 1 Comment
1 response so far ↓
I noticed that Delaware charges a $139 fee to process the one page form to dissolve a corporation. Seems a bit high, especially since a dissolving company probably has no cash! My question is whether there is even any reason to formally dissolve and pay it? If you don’t file anything and the business is closed with the IRS, I’m not sure what they’d do. If you have any advice I’d really appreciate an email. Thank you!