You must submit an article of dissolution to the State Corporation Commission (SCC) if you want to dissolve your company in Virginia. With the signing of this document, your company’s existence is formally ended, and any outstanding legal responsibilities are discharged. We will give a thorough explanation of the procedure for submitting an article of dissolution in Virginia and address some associated queries in this article.
Getting the proper forms is the first step in Virginia business dissolution. The form is available for download on the SCC website, or you can request a print copy by mail. You must use a different form to dissolve a nonprofit company than you would to dissolve an LLC or for-profit business.
Step 2: Complete the Form Once you get the proper form, you must completely fill it out. Basic information regarding your company, such as its name, address, and tax identification number, will be requested on the form. Additionally, you must disclose the cause of the breakup. Make sure to thoroughly read the form and enter accurate data.
Step 3: Fill out the form, then sign it. The form must be signed and submitted to the SCC after completion. The form can be turned in in person at the SCC headquarters in Richmond, Virginia, or by mail. Make sure to enclose a check for the filing fee if you decide to mail the form in.
Step 4: Inform Other Parties You must inform others that your business is no longer in operation once the SCC has accepted your article of dissolution. This could apply to clients, suppliers, and staff. Additionally, you might need to revoke any business licenses or permissions that your company currently holds.
The identical procedures stated above for submitting an article of dissolution must be followed in Virginia in order to close an LLC. There are a few extra steps you might have to do, though. For instance, you might have to terminate any company licenses or permits that your LLC has and submit a final tax return to the Virginia Department of Taxation.
You can ask the SCC for a copy of your articles of incorporation if you require one in Virginia. You can submit this via postal mail or in person at the SCC’s Richmond office. This service has a cost, and it can take a while to get your copy.
In Virginia, a nonprofit must be dissolved using a different form than a company or LLC that is for profit. You must utilize form NPO-1 from the SCC. Similar to the previous procedure, you may need to take extra procedures, such as informing the Virginia Attorney General, in order to dissolve a nonprofit.
Why Does an Article Dissolve? The legal procedure for formally ending a corporate entity’s existence is called article dissolution. You must submit an article of dissolution to the State Corporation Commission in Virginia in order to begin this procedure. Your business is no longer in operation and you are no longer liable for any lingering legal responsibilities after the article of dissolution has been approved.
Articles of Dissolution must be filed with the Maryland Department of Assessments and Taxation in order to dissolve an LLC there. The articles can be submitted by mail or online. The name of the LLC, the formation date, and a declaration that the LLC has been dissolved must all be included in the articles. You must also pay a filing fee. You might also need to finish your tax filings and revoke any company permissions or licenses. It is advised to seek legal or tax advice to make sure the dissolution procedure is carried out properly.
In Virginia, you must file an article of dissolution with the State Corporation Commission in order to dissolve an LLC. The name of the LLC, the formation date, and a declaration that the LLC has been dissolved must all be included in the article of dissolution. You must also mention that the registered agent has been informed of the dissolution and include the name and address of the LLC’s registered agent. You must publish a notice of the dissolution in a newspaper with general circulation in the county where the LLC’s registered office is after filing the article of dissolution. After 60 days have passed since the notice of dissolution was published, the LLC is regarded as being dissolved.