Dissolution in North Carolina
Company Dissolution in North Carolina
To dissolve a company in North Carolina 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 North Carolina.
2. Filing Articles of Dissolution
Articles of Dissolution are filed with North Carolina Secretary of State. The processing of dissolution at the North Carolina Secretary of State level takes about 7-10 business days, with expedited option available (same day and 24 hours).
3. Newspaper Publication
There are no newspaper publication requirements to dissolve a company in North Carolina.
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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