Oregon Proposal to adopt plan of dissolution and liquidation
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How to fill out Proposal To Adopt Plan Of Dissolution And Liquidation?
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FAQ
Administrative dissolution is an action taken by the Secretary of State that results in the loss of a business entity's rights, powers and authority. Reinstatement is the action taken that restores an administratively dissolved business entity's rights, powers, and authority.
The Oregon Business Corporation Act includes laws and regulations for corporations doing business in the state of Oregon. By forming a corporation, the owner's personal assets aren't at risk for legal or financial issues relating to the business.
A corporation can be dissolved only when its property has been distributed and its liabilities have been discharged.
If you don't correctly dissolve your Oregon business, you might have to continue paying unnecessary taxes and fees to the state, you might have to pay penalties, and you and your fellow owners might be negatively impacted in future business ventures.
Oregon Corporation Dissolution Step 1: The Corporate Resolution. The first step in dissolution is drafting the proper corporate resolution. ... Step 2: File Articles of Dissolution. ... Step 3: File Form 966. ... Step 4: Plan of Liquidation (Optional) ... Step 5: Notice (Optional)
Follow These Steps File Closure With the Secretary of State. Settle Assets. If a business is permanently closing, assets of the business may need to be sold off and reported as taxable income for the business. ... Close Any Licenses. You might have licenses that need to be closed for your business. ... Taxes.