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Delaware Dissolution - Section 276b - before beginning of business

Delaware Dissolution - Section 276b - before beginning of business

Name: Delaware Dissolution - Section 276b - before beginning of business
Brand: US Legal Forms
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Category:

Delaware Department of State - Division of Corporations - Dissolutions and Cancellations

State:

Delaware

Control #:

DE-DC-06-0

Format:

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Dissolution - Section 276b - before beginning of business Delaware Dissolution — Section 276— - before beginning of business is a legal procedure that is used to dissolve a Delaware corporation before the start of its business operations. This type of dissolution is different from other dissolution procedures in that it is designed for companies that have not yet begun business operations. It is an administrative process that is initiated by filing a Certificate of Dissolution with the Delaware Secretary of State. The Certificate of Dissolution must be accompanied by a Certificate of Cancellation for the company's Certificate of Incorporation and any other documents that may be required. There are two types of Delaware Dissolution — Section 276— - before beginning of business: voluntary and involuntary. Voluntary dissolution is initiated by the company's board of directors or shareholder(s), while involuntary dissolution is initiated by the Delaware Secretary of State due to failure to comply with certain statutory requirements.

Delaware Dissolution — Section 276— - before beginning of business is a legal procedure that is used to dissolve a Delaware corporation before the start of its business operations. This type of dissolution is different from other dissolution procedures in that it is designed for companies that have not yet begun business operations. It is an administrative process that is initiated by filing a Certificate of Dissolution with the Delaware Secretary of State. The Certificate of Dissolution must be accompanied by a Certificate of Cancellation for the company's Certificate of Incorporation and any other documents that may be required. There are two types of Delaware Dissolution — Section 276— - before beginning of business: voluntary and involuntary. Voluntary dissolution is initiated by the company's board of directors or shareholder(s), while involuntary dissolution is initiated by the Delaware Secretary of State due to failure to comply with certain statutory requirements.

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§ 276. Dissolution of nonstock corporation; procedure. (a) Whenever it shall be desired to dissolve any nonstock corporation, the governing body shall perform all the acts necessary for dissolution which are required by § 275 of this title to be performed by the board of directors of a corporation having capital stock.

To dissolve your domestic corporation in Delaware, you must provide the completed Certificate of Dissolution form to the Department of State by mail, fax or in person, along with the filing fee. Include a Filing Cover Memo with your name, address and telephone/fax number to enable them to contact you if necessary.

The LLC cannot be cancelled until all Delaware franchise tax is paid. Delaware franchise tax is also not pro-rated. As a result, the LLC will need to pay the full Delaware franchise tax for the year if the LLC is not cancelled before January 1.

It will take approximately two to three weeks to dissolve your LLC or corporation. Expedited service is available in one hour, two hours, same day or 24 working hours depending on the service requested. You will receive a confirmation copy of your filing by the return service you indicate on your filing cover memo.

Steps to dissolve, surrender, or cancel a California business entity File all delinquent tax returns and pay all tax balances, including any penalties, fees, and interest. File the final/current year tax return.Cease doing or transacting business in California after the final taxable year.

If a business is not properly dissolved, it continues to exist as a legal entity under state law. This means that it will be remain subject to corporation or LLC filing requirements, such as annual reports and franchise taxes.

The filing fee for the standard form is $204 for a one-page document and $9 for each additional page. The filing fee for the short form is $10. Filings are usually processed in 2-3 weeks. Various forms of expedited processing?one hour, two hours, same day, 24 hours?are available for additional fees.

You need to send the state a Certificate of Cancellation and Cover Letter and pay the $200 filing fee. You can file the Certificate of Cancellation and Cover Letter by mail or online. The fee is the same for both filing methods. Note: The state used to have fax filings, but as of 2020, this is no longer an option.

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The preceding sentence shall not apply to any loss of the distributing corporation (or the distributee) in the case of a distribution in complete liquidation. SectionNature of defaultPenalty leviable(1)(2)(3)271FABRs.5,00,000272A(1)Refusal or failure to :Rs. This manual is intended to be used electronically as it includes hyperlinks within and resources external to the document. Amendment of section 115JC. Bill No. 18-C of 2022. Amendment of section 115JC. Bill No. 18-C of 2022. 2. Cessation of Business Activities. Liability of directors of private company in liquidation.

Delaware Dissolution - Section 276b - before beginning of business

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