What is required for a corporate dissolution?

In Washington, the process of corporate dissolution is the official end of a corporate entity. Corporate dissolution is required when a corporation has gone out of business or when it is no longer needed. The process of corporate dissolution begins with notification to the Washington Secretary of State and the filing of an Articles of Dissolution. The Articles of Dissolution must include the corporate name, the type of corporation, the date of formation and the signatures of the directors of the corporation. In addition, if the corporation has outstanding stock, the directors must provide written notice to all the shareholders or their legal representatives and acquire the written consent of each. If the corporation has debts that have not been paid, the directors must take steps to pay them off or provide for their repayment. Washington also requires that all business assets be sold, liquidated or transferred to another corporation and all liabilities must be paid or discharged. Any assets that remain after liquidation must be given to the dissolved company’s shareholders or creditors. Finally, the directors must submit a final tax return to the Washington Department of Revenue. Once all the requirements have been completed, the Secretary of State will issue a Certificate of Dissolution, officially ending the corporation.

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What is required for a corporate dissolution?

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