Wisconsin Plan of complete liquidation and dissolution

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Multi-State
Control #:
US-CC-9-352
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Word; 
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This sample form, a detailed Plan of Complete Liquidation and Dissolution document, is a model for use in corporate matters. The language is easily adapted to fit your specific circumstances. Available in several standard formats.

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FAQ

Although some people confuse dissolution and termination, dissolution does not terminate an LLC's existence. What it does is change the purpose of its existence. Instead of conducting whatever business it conducted before, a dissolved LLC exists solely for the purpose of winding up and liquidating.

Accounting and Tax Steps for Closing a C-Corp Consult with a tax professional and accountant. ... Hold a shareholder meeting and vote to dissolve. ... File Articles of Dissolution. ... Notify the IRS and state tax authorities. ... Prepare final tax returns. ... Calculate and pay taxes on corporate gains. ... Settle outstanding tax liabilities.

To dissolve a corporation, California's default rules call for written consent by shareholders holding at least 50% of the voting power?the same minimum requirement if there was a vote at a meeting. However, the corporation's articles can require a higher voting percentage.

A plan of dissolution is a written description of how an entity intends to dissolve, or officially and formally close the business. A plan of dissolution will include a description of how any remaining assets and liabilities will be distributed.

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.

To dissolve your LLC in Wisconsin, submit Wisconsin Form 510, Articles of Dissolution to the Department of Financial Institutions: Division of Corporate and Consumer Services (DFI) in person or by mail or commercial delivery. Use of the DFI form is not mandatory; you may draft your own articles of dissolution.

To dissolve your Wisconsin Corporation, file Wisconsin Form 10, Articles of Dissolution ? Stock For-Profit Corporation with the Department of Financial Institutions: Division of Corporate and Consumer Services (DFI). You are not required to use the DFI form. You may choose to draft your own Articles of Dissolution.

If your entity is on the "Certificate of Administrative Dissolutions" and you want the entity to be reinstated, you must contact our office at: DFICorporations@dfi.wisconsin.gov? with your entity name and entity ID and we will email you the forms to reinstate the entity.

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Wisconsin Plan of complete liquidation and dissolution