What is the process for dissolving a business entity?

In Washington, the process for dissolving a business entity depends on the type of business entity. For corporations, the process is different from that of limited liability companies (LLCs) and limited partnerships (LPs). For corporations, the first step to dissolve the corporation is to notify the Washington Secretary of State via letter. The letter must include the name of the corporation, the address of the corporation, and a statement of dissolution. Then the corporation must distribute any remaining assets to its shareholders, pay all outstanding debts, and file a Certificate of Cancellation form with the Washington Secretary of State. For LLCs, the process is slightly different. First, the LLC must wind up its business affairs. This includes distributing assets to its members, paying off debts, and filing certain forms with the Washington Secretary of State. Then the LLC must execute a Certificate of Termination form with the Washington Secretary of State. For LPs, the process is similar to that for LLCs. The LP must wind up its business affairs, distribute assets to its partners, and pay off debts. Once this is done, the LP must file a Certificate of Cancellation form with the Washington Secretary of State. All three processes are similar in that they require the filing of certain forms with the Washington Secretary of State to complete the dissolution process. The business entity must also be sure to wind up their business affairs and distribute assets to their members and pay off their debts before dissolution.

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What is the process for dissolving a business entity?

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