Business dissolution can be a complicated process. However, it is necessary
if you want to avoid legal hassle down the road from improperly dissolving
your business. In the state of Colorado, there are several steps you must
take to legally and completely dissolve your business. Our firm has guided
numerous clients successfully through the process, and we can provide
informative and personal services from start to finish.
What are 5 steps that are necessary in order to dissolve your Colorado business?
- Obtain agreement to dissolve according to corporation formalities & contracts
- File a Certification of Dissolution (Articles of Dissolution)
- File federal, state, and local tax returns
- Notify creditors, customers, and employees
- Settle creditors’ claims and distribute remaining assets
If you are involved in a limited liability company (LLC) or corporation,
your shareholders and the board of directors must grant approval to begin
the dissolution process. Smaller businesses may obtain agreement from
shareholders and certain members. In the Articles of Dissolution, you
must include information regarding your business’s name, address,
date the dissolution was authorized, and other filing information. Once
you complete all 5 steps, your business will be considered legally dissolved.
Dissolve Your Business with the Help of Our Attorneys
At Jorgensen, Brownell & Pepin, P.C., we have a thorough knowledge
of federal and state business dissolution laws. Whatever your situation,
we can answer your questions and help you file the necessary paperwork.
With more than 25 years of legal experience, our Longmont business lawyers
can provide effective services.
Contact our firm to discuss your case with our legal advocate.