Corporate Dissolution Plan Template
Description
How to fill out Plan Of Liquidation?
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FAQ
Dissolution. The first step to closing up shop is receiving shareholder approval to formally close the corporation. The board of directors should adopt a resolution to dissolve the corporation and receive approval for the action.
What Questions does IRS Form 966 Ask? Name of corporation. Employer Identification Number. Address. Type of return 1120 1120-L 1120-IC-DISC 1120S. Date incorporated. Place incorporated. Type of liquidation (Complete or Partial) Date resolution or plan of complete or partial liquidation was adopted.
Completing IRS Form 966 Write your business's name, address, and EIN at the top of the form. Complete Box 1 with the date of incorporation. Complete Box 2 with the location of incorporations. Use Box 3 to indicate whether this is a complete or partial liquidation.
What is a Plan Of Dissolution? A plan of dissolution is a written description of how an entity intends to dissolve, or officially and formally close the business. A plan of dissolution will include a description of how any remaining assets and liabilities will be distributed.
However, if an LLC elected to be taxed as a C corporation at any time, it would need to file Form 966 if it decides to dissolve or liquidate.