District of Columbia Plan of Liquidation and Dissolution of a Corporation

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Multi-State
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US-0076BG
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Word; 
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Description

Dissolution is the act of bringing to an end. It is the act of rendering a legal proceeding null, or changing its character. Under corporate law, it is the last stage of liquidation. Dissolution is the process by which a company is brought to an end.



Liquidation is the selling of the assets of a business, paying bills and dividing the remainder among shareholders, partners or other investors. A business need not be insolvent to liquidate. Upon liquidation of certain business, such as a bank, a bond may be required to be posted to assure the proper distribution of assets to creditors.

How to fill out Plan Of Liquidation And Dissolution Of A Corporation?

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FAQ

There's no fee to dissolve your Washington LLC by mail. If you file online, it'll cost you $20. You may request expedited service for a $50 fee.

Dissolution is the end of the legal existence of a corporation. It usually occurs after liquidation, which is the process of paying debts and distributing assets. There are several methods by which a corporation may be dissolved. The first is voluntary dissolution, which is an elective decision to dissolve the entity.

Steps to Dissolving a Washington LLC: Fill out your Certificate of Dissolution. Use the Certificate of Dissolution for a domestic Washington LLC, and a Certificate of Cancellation for a foreign (out-of-state) LLC. ... Submit your paperwork to the Washington Secretary of State.

You may contact the Agency at (202) 671-4500 if you have more detailed questions about premise address changes. If you are no longer conducting the business activity for which your Basic Business License was issued, you are required to formally notify DLCP by submitting a Business License Cancellation request.

For corporations that have been actively engaged in business, you must file Form DBU-7, Articles of Dissolution for Domestic For-Profit Corporation with the District of Columbia Department of Licensing and Consumer Protection (DLCP), Corporations Division.

To dissolve your LLC in the District of Columbia, file Form DLC-8, Statement of Dissolution for Domestic Limited Liability Company with the Department of Licensing and Consumer Protection (DLCP). Feel free to draft your own articles, but do not handwrite on DLCP forms.

How Much Does It Cost to Dissolve an LLC in MD? It doesn't cost anything to file articles of dissolution or cancellation unless you want expedited service, and then it's $50 for each document. Wrapping up an LLC's affairs will cost time and money due to registered mailing and administrative expenses.

Dissolutions fall into three categories: judicial, administrative, and voluntary. Judicial dissolution is issued by a court. A court can dissolve a business for failure to comply with state laws or failure to pay its taxes.

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District of Columbia Plan of Liquidation and Dissolution of a Corporation