Dissolving Your Company in New Jersey
Company Dissolution in New Jersey
To dissolve a company in New Jersey 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
Corporations only: written consent of the New Jersey Division of Taxation must be attached to the Certificate of Dissolution when it is submitted to the State for filing.
2. Filing Articles of Dissolution
Articles of Dissolution are filed with New Jersey Department of the Treasury. The processing of dissolution at the New Jersey Department of the Treasury level takes about 7-20 business days.
3. Newspaper Publication
There are no newspaper publication requirements to dissolve a company in New Jersey.
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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