What are the rules for winding up a company?

In New Hampshire, the rules for winding up a company depend on the type of entity it is. For corporations, the New Hampshire Revised Statutes Annotated Chapter 292-A governs the process. Generally, the process begins with the company filing paperwork with the Secretary of State declaring an intention to dissolve. After that, the company still has to fulfill any outstanding obligations, such as paying creditors, distributing assets to shareholders, and filing the final tax returns. If the company is a limited liability company, the process is a bit different. In this case, the members of the LLC must file a certificate of dissolution with the Secretary of State. Along with the certificate, the LLC must provide a list of its assets, liabilities, and any contracts that will remain in effect. After the dissolution is complete, the LLC must then pay any outstanding creditors and officially wind up its affairs by filing a final tax return. In either case, it is important for the company to follow all the applicable rules to make sure the winding up of the company is done properly.

Related FAQs

What is the role of a commercial lawyer?
How is corporate finance regulated?
What is the law on intellectual property?
What are the various forms of business entity?
What is the function of a company secretary?
What is the difference between a share and a bond?
How can a business protect its assets?
How does the law protect vulnerable consumers?
How does commercial law differ from criminal law?
What are the basics of contract law?

What are the rules for winding up a company?

Related FAQs

Related Blog Posts