Dissolving Your Company in Ohio
Company Dissolution in Ohio
To dissolve a company in Ohio 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
In addittion to the certificate of dissolutions corporations also must file a notarized Affidavit of Personal Property, identifying any counties in Ohio where the corporation has personal property. Obtain a Tax Clearance Certificate from the Ohio Department of Taxation. Show evidence from the Ohio Bureau of Job and Family Services showing that all payments required have been made to the Unemployment Compensation Fund. Show evidence from the Ohio Bureau of Workers’ Compensation fund showing that all premiums have been paid.
2. Filing Articles of Dissolution
Articles of Dissolution are filed with Ohio Secretary of State. The processing of dissolution at the Ohio Secretary of State level takes about 4-6 business days, with expedited option available (2 business days).
3. Newspaper Publication
There are no newspaper publication requirements to dissolve a company in Ohio.
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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