How do you dissolve a business?
I have a Massachusetts S-Corp that hasn't generated any revenue since 2018 and a Delaware corporation through Stripe Atlas that has no revenue and no expenses. How do I dissolve them (preferably as cheaply as possible)?
You will need to file a dissolution with the states, distribute assets and settle your debt (if any), and file your last year's business tax returns.
Thanks Sara. Good luck with Accountrepreneur, looks handy.
Thanks @ianwalter! Appreciate it, and feel free to reach out if you have any questions. Happy to help.
Out of curiosity , how much does it cost you to keep the business active annually ?
The C-corp costs at least $450 because it's Delaware-based and that's the lowest fee. I can't remember what the MA fee is. Then there is a few hundred dollars for accounting fees to file taxes.
I see, I would also want to resolve it if its not generating revenue.
I've been looking for a cheaper option than Stripe Atlas as I would like to register a Delaware LLC, though I'm based in South Africa.
I came across this, maybe it would help you.
https://www.delawareinc.com/blog/closing-delaware-llc-corporation/
Would you be open to discussing this further ? could I reach you via email ?