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I need to dissolve my business but I am not sure how or where to begin. |
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This is a start:
1. Make a list of all contracts that are open and go through them. Do they impose any ongoing requirements (if so, you will have to honor them even after the shut down), or is there a provision to cancel them with notice?
2. Any leases (you are bound by them and may have to give notice)?
3. Any insurance (does it cover past acts if you cancel or must you keep it in force should a customer sue you next year for goods you sold last year)?
4. Any licenses? Permits?
5. Are you going to sell any inventory? Accounts receiveable? You may have to file a bulk sale report.
6. Any employees? Some states require notices depending on the number of employees. What are their and your health insurance? |
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