Administrative dissolution is the loss of rights, powers, and authority of a corporation, LLC or other business entity. Learn how to avoid this process today.

Mississippi Senate Bill 2350 eliminates the 10-year term limit for voting trusts

The decision to close your corporation shouldn’t be taken lightly. Our infographic details a step-by-step process for closing your corporation the right way.

There are myriad reasons for voluntarily dissolving an LLC. But regardless of the reason, there’s more to it than just putting up a “Closed” sign. Without proper termination, your LLC could be liable for taxes and annual reports, lawsuits, and identity fraud issues. Our infographic explains the steps involved in properly terminating an LLC.

Ending an LLC’s existence as a separate legal entity is a multi-step process that involves dissolving, winding up affairs, liquidating assets, paying creditors, and more. Both state law and the LLC operating agreement dictate how and when these steps must be taken.

If you operate as an LLC or corporation, you must take steps to properly dissolve the company when ceasing operations.

Read about the consequences of administrative dissolution and seeking reinstatement.