Dissolving Your Massachusetts Company
Company Dissolution in Massachusetts
To dissolve a company in Massachusetts first step is to have a meeting of its members (for LLC) or directors/shareholders (for corporation) and have a resolution drafted authorizing dissolution. Once such resolution was ratified, the process of dissolution involves the following steps:
1. Obaining Clearances & Consents
There are no clearances of consents required to dissolve a company in Massachusetts.
2. Filing Articles of Dissolution
Articles of Dissolution are filed with Massachusetts Secretary of the Commonwealth. The processing of dissolution at the Massachusetts Secretary of the Commonwealth level takes about 3-5 business dys.
3. Newspaper Publication
There are no newspaper publication requirements to dissolve a company in Massachusetts.
4. Updating Other Agencies & Company Documents
Don’t forget to notify the IRS and other state agencies regaring the dissolution. Also, make sure you file a “final” tax return for the company.
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