Dissolving Your Rhode Island Company
Company Dissolution in Rhode Island
To dissolve a company in Rhode Island 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 letter of good standing from the Rhode Island Division of Taxation for the purpose of dissolution must accompany the Articles of Dissolution.
2. Filing Articles of Dissolution
Articles of Dissolution are filed with Rhode Island Secretary of State. The processing of dissolution at the Rhode Island Secretary of State level takes about 7-10 business days.
3. Newspaper Publication
There are no newspaper publication requirements to dissolve a company in Rhode Island.
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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