In Arizona, a company must be formally dissolved after its lifespan is through. The Arizona Corporation Commission must receive an article of dissolution before the dissolution can take place. This article will address pertinent queries and describe how to file an article of dissolution in Arizona.
In Arizona, a company or LLC must formally dissolve by filing an article of dissolution with the court. The name of the company, its incorporation date, and its justification for dissolving must all be mentioned in the article. An authorized company representative, such as a director or manager, must sign the paper.
On their website, the Arizona Corporation Commission offers a template for the article of dissolution that may be downloaded. By filling in the blanks with the relevant details about the company, the template, which has all the necessary information, may be finished. The Arizona Corporation Commission must receive the completed item after it has been filed.
The article of dissolution must first be submitted to the Arizona Corporation Commission in order to dissolve a corporation in Arizona. The corporation is required to inform all creditors, stockholders, and other interested parties of the dissolution as soon as the article is filed. The corporation must also settle any unpaid taxes or debts.
The corporation must distribute any remaining assets to the shareholders once all liabilities and taxes have been settled. The corporation may be formally closed once all assets have been distributed. Once all necessary procedures have been followed, a certificate of dissolution will be issued by the Arizona Corporation Commission.
Depending on the type of LLC and the particulars of the dissolution, the cost to dissolve an LLC in Arizona varies. There is a $35 filing fee for the article of dissolution, however there can be additional costs for some services or other necessary paperwork.
In addition to the filing fee, there can be expenses for paying back taxes or obligations, alerting creditors, and distributing assets to members. To make sure that all procedures are followed correctly and all expenses are recorded, it is crucial to speak with an attorney or accountant.
In Arizona, dissolving a nonprofit follows a similar procedure to that of a corporation or LLC. The Arizona Corporation Commission must be contacted in order to submit an article of dissolution. Additionally, the nonprofit is required to inform all creditors, contributors, and other interested parties of its dissolution.
The nonprofit must transfer any remaining assets to other nonprofit organizations after all liabilities and taxes have been settled. The organization can be formally closed once all the assets have been distributed. Once all necessary procedures have been followed, a certificate of dissolution will be issued by the Arizona Corporation Commission.
Finally, ending a corporation, LLC, or nonprofit organization in Arizona requires filing an article of dissolution. Writing a paper with precise information about the company and submitting it to the Arizona Corporation Commission are both required steps in the procedure. Depending on the type of business and the particulars of the dissolution, the price and stages required in doing so can change in Arizona. To make sure that all procedures are followed correctly and all expenses are recorded, it is crucial to speak with an attorney or accountant.