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Dissolving an S-corp

Asked by: rick - 10 September, 2012
https://d25eic0jctudgb.cloudfront.net/images/site/avatars/default.png-f1597c1da25f30f8c1a941405e8391c8 How do I dissolve an s corp?
Answered by: Ray Albert - 12 September, 2012
https://d25eic0jctudgb.cloudfront.net/images/site/avatars/194.jpg-630c771619e92bede7e6f696b56767b9 Rick,

The first step you will need to accomplish is to get the consent of the shareholders, officers and directors to dissolve the company. Of course if you are the only shareholder, that part will be fairly simple.

Once you have the consent to dissolve, you will need to liquidate any assets held by the company and distribute them accordingly, either to creditors, shareholders, etc., then file the company's FINAL tax documents with the IRS.

At this point, you will be able to commence the entity dissolution by submitting the appropriate documents and fees to the state and federal offices. This is something we could help with if needed, and you can find more information in our Entity Dissolution section.

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