Susan Barilich, P.C.
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Taking the right course of action when dissolving your business

California business owners understand there may come a time when it is necessary to shut down business operations and move on. If you are considering dissolving your business or think you may in the future, it is beneficial to know the steps you have to take to do this. This can help you avoid problems and potential complications.

What you will have to do depends on the type of business you have and other factors. Many business owners find it beneficial to seek guidance as they walk through this process. As with all major decisions regarding your company, it can be prudent to first seek a complete explanation of rights and options.

The business of dissolving your business

One day, you will sell, retire or dissolve your business. While that day may seem far off in the future, it is beneficial to know what to do in the event you decide to move forward with shutting down operations. Some of the steps you may have to take include:

  • If you are in a partnership or other types of organization, you may have to consult with others and follow procedures as outlined in the organizational documents.
  • You will need to settle any remaining matters with creditors, suppliers or customers with outstanding orders. Some businesses may have to file certain papers with the state.
  • You will have to notify tax agencies and cancel all licenses related to your business operations.
  • If there is any money still owed to your business, you will need to take steps to collect it.

These are all important steps, yet the specific avenues you may have to follow depend largely on the factors unique to your individual situation. It is smart to seek the right support to ensure you do not make unnecessary mistakes during this process or find yourself entangled in legal or financial complications.

The right help for an important step

Dissolving a business involves much more than just shutting down operations and turning off the lights. As a business owner, it is for the benefit of your legal and financial interests to ensure you take the right steps to complete this process in the right way.

Just as you sought legal help at the beginning of your business, you will find great benefit in having legal help at the end. Securing the the guidance of an experienced lawyer can not only help you navigate this intricate process, but it is also prudent should any legal issues arise related to the aforementioned aspects of dissolving a business.

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Susan Barilich, P.C. | 535 N. Brand Blvd., Ste. 504 | Glendale, CA 91203 | Phone: 818-500-0377 | Map & Directions