Dissolving Your Company in Utah
Company Dissolution in Utah
To dissolve a company in Utah 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 Utah. Only foreign businesses in Utah are required to furnish a Tax Clearance Certificate with their dissolution documents.
2. Filing Articles of Dissolution
Articles of Dissolution are filed with Utah Department of Commerce. The processing of dissolution at the Utah Department of Commerce level takes about 5-7 business days, with expedited option available (48 hours).
3. Newspaper Publication
There are no newspaper publication requirements to dissolve a company in Utah.
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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