In order to dissolve a corporation in New Jersey, a number of forms must be submitted along with a number of payments. The type of corporation, the cause for dissolution, and the process of dissolution all affect how much it will cost to dissolve a corporation in New Jersey. In this post, we’ll go over how much it costs to dissolve a corporation in New Jersey as well as the actions that need to be taken.
Whether a corporation is a domestic or international firm affects the cost of dissolving it in New Jersey. A domestic corporation must pay a filing fee of $125, whereas a foreign business must pay a filing charge of $225. Other costs connected with the dissolution procedure could include those for certified copies of documents, publication costs, and registered agent services.
There are various steps involved in dissolving a corporation in New Jersey. To authorize the dissolution, the corporation must first call a meeting of the board of directors or shareholders. A Certificate of Dissolution must then be submitted by the corporation to the New Jersey Division of Revenue and Enterprise Services. The name of the corporation, the cause of dissolution, and the date of dissolution must all be included on this form.
Additionally, either the board of directors or the shareholders have the authority to dissolve a corporation. A resolution approving the dissolution must be adopted if the board of directors proposes it. If the shareholders take the initiative to dissolve the company, they must adopt a resolution sanctioning the action and choosing a committee to manage the process.
Additionally, NJ corporations may dissolve themselves online on the website of the Division of Revenue and Enterprise Services. The corporation must submit an online application and pay the necessary costs in order to achieve this. Online submissions are typically quicker and more practical than paper form submissions.
Finally, it’s critical to understand the distinction between termination and dissolution. The process of dissolving a corporation involves finalizing its operations and dispersing its assets to its owners. On the other hand, termination is the procedure used to stop the legal existence of the corporation. Once the dissolution procedure is complete and a Certificate of Cancellation has been submitted to the New Jersey Division of Revenue and Enterprise Services, the corporation is deemed ended.
In conclusion, a number of variables, such as the type of business, the purpose for dissolution, and the manner of dissolution, affect how much it will cost to dissolve a corporation in New Jersey. A corporation must submit multiple forms and pay a range of costs in order to dissolve. The board of directors or shareholders have the authority to dissolve a corporation. Online dissolution of NJ corporations is possible through the website of the Division of Revenue and Enterprise Services. Finally, it’s critical to comprehend the distinction between termination and disintegration.