How to Dissolve a Business in Florida
Starting a business can be one of the most exciting decisions of your life, but many things come to an end. It is important to recognize that dissolving a business is also a major step and can have costly impacts if not done correctly. When the decision has come to dissolve your business, the way in which you do so will depend on the type of organization you have, how many owners there are, what their ownership and contractual rights are, and also local laws and procedures.
Connecting with a Boca Raton business law attorney can help to ensure that the process is done correctly, effectively, and completely, so that your risk in dissolving is minimized and the benefit maximized.
Winding Up and Filing Paperwork
When it comes to partnerships, the official term for the period between deciding to close and the actual act of dissolution is called the winding-up period. During this time, you will wrap up the obligations of the business by settling debts, collecting on accounts payable, and determining if you will try and sell the business or simply allow it to dissolve entirely and cease to exist.
Once you have decided, the type of business will determine the next steps and what paperwork to file. For your corporation, you’ll need to file your dissolution with the Secretary of State. If you were simply operating a “doing business as” with a city-wide license to operate, you might just need to contact your city clerk. A local business law attorney can advise you on what avenue is most appropriate for you to dissolve your unique business.
Connect With a Local Business Law Attorney For Help On Your Case Now!
Deciding to close up shop is never easy, but it might be the right thing to do in your situation. Reach out to Rubino Findley to schedule an appointment to discuss how to wind up your business.