Indiana Sample Letter for Official Notice of Intent to Administratively Dissolve or Revoke
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How to fill out Sample Letter For Official Notice Of Intent To Administratively Dissolve Or Revoke?
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FAQ
What is a business dissolution? A business dissolution is a formal closure of a business with the state. A small business cannot hang up a ?closed? or ?out of business? sign outside their storefront, turn off the lights, and lock their doors to be considered a dissolved business.
Completing the reinstatement process online saves both time and money: Certificate of Clearance from the Department of Revenue. Completed Application for Reinstatement. Completed Business Entity Report.
People who continue to operate a business that has been dissolved, are taking a serious risk. That's because once the company dissolves, the corporate protections no longer exist. That means that someone who operates the dissolved business, can be sued personally for anything the (dissolved) company does.
If your business has been administratively dissolved or revoked, you cannot conduct business in Indiana. Don't panic. If you intend to continue doing business, you can reinstate the business if it has not been administratively dissolved or revoked for more than five (5) years.
Once a company is dissolved, it no longer exists as a legal entity and cannot conduct business or enter into contracts. Dissolution may also trigger a number of certain legal obligations, such as the distribution of remaining assets to creditors or shareholders. It also might involve the filing of final tax returns.
Although the content will vary, certain elements should be included in every letter of dissolution. These include: The name of the recipient and the name of the person sending the letter. The purpose of the letter, including the relationship to be terminated and the date of termination, stated in the first paragraph.
Administrative dissolution is the taking away of the rights, powers, and authority of a domestic corporation, LLC, or other statutory business entity by the state administrator overseeing business entities, due to the entity's failure to comply with certain obligations of the business entity statute.
