There are many reasons to decide that dissolving your business is the best course of action. However, depending on what kind of business it is, the process isn't as simple as just packing up and leaving. If you have partners, you'll need to follow the procedures outlined in your Partnership Agreement or Articles of Incorporation, and fill out a Partnership Dissolution Agreement. You'll also need to notify the IRS, and you may need to file papers with the state and give notice to your creditors. Find out what you need to do to dissolve your business the right way, and make sure that it’s truly “case closed” to prevent stumbling upon loose ends years down the road.
Access a variety of articles and guides, as well as videos and legal documents that will walk you through the choice of dissolving your business; from making the final decision, to closing the books to getting it in writing. Be prepared for dissociation, which gives notice to all business stakeholders, followed by proper dissolution procedure. Finally, follow through with a well-executed distribution of your business assets among the proper parties. Closing your business may be a difficult and stressful decision, but it doesn’t have to be a difficult process with the right resources at your fingertips.