Dissolving Your Company in Michigan
Company Dissolution in Michigan
To dissolve a company in Michigan 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
A domestic corporation that wants to dissolve in Michigan will need a tax clearance certificate after filing for dissolution. Within 60 days after submitting the certificate of dissolution to LARA, the business must request a tax clearance certificate from the Michigan Department of Treasury, Tax Clearance Division. Once you get tax clearance from the department of treasury, you do NOT have to submit the Tax Clearance Certificate to LARA.
2. Filing Articles of Dissolution
Articles of Dissolution are filed with Michigan Department of Energy, Labor & Economic Growth. The processing of dissolution at the Michigan Department of Energy, Labor & Economic Growth level takes about 3-5 business days, with expedited option available (24 hour, same day, 2 hours and 1 hour).
3. Newspaper Publication
There are no newspaper publication requirements to dissolve a company in Michigan.
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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