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How to close a business—both an LLC and an S Corp?

How to close a business—both an LLC and an S Corp?

By Nina Kaufman, Esq.

Q.:  I have started two companies one an LLC and the other an S Corp that I used for a very short time and would like to stop using. How do you go about the process to close a business?   A.:  Just as you needed your Secretary of State’s permission to open your business, you’ll need its permission to dissolve, or close a business.  The first step to close a business is to ensure that there are no outstanding taxes or tax returns that need to be filed, and that you’re not leaving any creditors in the lurch. Then you can file what’s sometimes called a “Certificate of Dissolution.”  It’s not a difficult process, but it will involve some paperwork.  Speak to your attorney and accountant to confirm the documents you’ll need to file in your state to close a business.   What other law questions do you have about transfer of ownership and closing a business? Like what you read? Watch this short video to learn who we serve best. Watch our Video…

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Nina Kaufman

Flying solo doesn’t have to mean going it alone.

I’m Nina Kaufman.

I know first-hand that running a knowledge-based service business has unique challenges. It’s so much easier when you have an advocate in your corner. Over the past 25 years, I’ve worked with thousands of New York business professionals who want a legal advisor to guide and support them as they navigate the business world.

With wide-ranging experience as a business attorney, strategist, and media authority, I bring the added power of a business lens to the legal issues my clients are facing.

And because I’ve been a business owner myself, I’ve lived through the soaring highs and devastating lows – like when my first law firm failed. So I understand what’s involved to serve great clients, detect business risks early and build a true legacy.

I can’t get those 12 years back. That’s why I have made it my mission to ensure that business professionals like you can become wise and discerning leaders, build a solid business, and live your best life.