If you have a Florida corporation that you no longer intend to operate, you might be curious about how to dissolve it, the charges involved, and how long the process takes. The process of dissolving a business in Florida entails a number of processes and costs, but it can be simple if you adhere to the regulations and guidelines established by the state.
Whether you are voluntarily dissolving the business or the state is administratively dissolving it affects the cost of dissolving a corporation in Florida, among other things. The Florida Division of Corporations must receive the Articles of Dissolution together with a $35 filing fee if the corporation is being voluntarily dissolved. You must also settle any unpaid taxes or fees owed by your corporation before filing for dissolution. There can be additional costs and fines if the state administratively dissolves your corporation. Timeframe for Florida Corporation Dissolution
Whether you are voluntarily dissolving the corporation or the state is officially dissolving it, there are different timeframes for doing so in Florida. If the corporation is being voluntarily dissolved, the Florida Division of Corporations must receive the Articles of Dissolution, which typically takes a few business days to process. The procedure can take longer, though, if there are any problems with the form or other criteria. The process could take longer and be more expensive if the state is administratively dissolving your organization.
In Florida, there are a few actions you must do in order to dissolve a corporation. To ratify the dissolution, the board of directors or shareholders must first meet. The next step is to submit the Articles of Dissolution along with any necessary paperwork, such as tax clearing certificates, to the Florida Division of Corporations. You must notify creditors, stockholders, and other interested parties of the dissolution after the Florida Division of Corporations approves it.
In Florida, a notice of corporate dissolution is a formal statement informing shareholders, creditors, and other interested parties of the dissolution of the corporation. After submitting the Articles of Dissolution to the Florida Division of Corporations, you have 30 days to deliver the notification. The notice must specify that the corporation is no longer in operation and contain the name, address, and date of the dissolution. Shutting Down a Corporation
A corporation must be dissolved in order to be closed, which entails a number of actions and costs. To dissolve the corporation, you must call a meeting of the board of directors or shareholders, file the Articles of Dissolution with the Florida Division of Corporations, pay the filing fee, and submit any other paperwork. You must notify creditors, stockholders, and other interested parties of the dissolution after the Florida Division of Corporations approves it. You can liquidate the corporation and distribute any remaining assets to shareholders once you’ve finished these steps.
In conclusion, Florida requires a number of stages and expenses to dissolve a corporation, but if you follow the rules and regulations established by the state, it can be a pretty simple process. It is a good idea to speak with a lawyer or a business counselor if you’re thinking about dissolving a corporation in Florida to make sure you are adhering to all monetary and legal criteria.