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Step 1: Corporation or LLC action. Step 2: Filing the Certificate of Dissolution with the state. Step 3: Filing federal, state, and local tax forms. Step 4: Notifying creditors your business is ending. Step 5: Settling creditors' claims.

Have a board of directors' meeting. Have a shareholders' meeting in order to approve the motion to dissolve the corporation. Submit a written Consent to Dissolution to the Tennessee Secretary of State. Submit any required annual reports to the Tennessee Secretary of State.

Option 1: Access the Tennessee Secretary of State's online services. Option 2: Download and mail in the Articles of Organization PDF to the Tennessee Secretary of State or submit it in-person. State Filing Cost: $50 per member, with a minimum of $300 and a maximum of $3000.

Hold a Directors meeting and record a resolution to Dissolve the Tennessee Corporation. Hold a Shareholder meeting to approve Dissolution of the Tennessee Corporation. File a Written Consent to Dissolution with the TN Secretary of State.

Failing to dissolve the corporation allows third parties to continue to sue the corporation as if it is still in operation. A judgment might mean that shareholders use the money received from distributed assets when the corporation closed down to satisfy judgments against the corporation.

The name of your nonprofit. the date dissolution was authorized. if approval by members was required, a statement that the resolution to dissolve was duly adopted by the members.

Visit Tennessee's Secretary of State website. Select Corporations from the drop-down menu of the Business Services tab.

Hold a board of directors meeting and formally move to dissolve your corporation. Fill out and file the appropriate dissolution documents with the Tennessee Secretary of State. Fulfill all tax obligations with the state of Tennessee, as well as with the IRS.

Articles Of Termination

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