West Virginia Corporate Resolution for Sole Owner
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How to fill out Corporate Resolution For Sole Owner?
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FAQ
In order for the Office of the Secretary of State to issue a Certificate of Dissolution for a profit corporation that never commenced business, the corporation must submit an original application for Dissolution of a WV Corporation Never Commencing Business.
Even if your business has only one owneryouit can still be legally organized as a corporation, with you as the sole shareholder as well as the president and director. One-owner corporations are common.
The shareholders own the corporation and are responsible for electing the directors. This is done when the corporation is first formed and usually continues on an annual basis.
File a dissolution, termination, withdrawal, or cancellation online quickly and conveniently through the One Stop Business Portal. The Secretary of State's Office also provides forms that meet minimum state law requirements available online through the Secretary of State Form Search.
Sole-proprietorships and partnerships must generally be closed when the owners exit the business, because the ownership can not be transferred. Corporations can be transferred to new owners but you may choose to voluntarily close a corporation (known as dissolving a corporation).
To close their business account, a sole proprietor needs to send the IRS a letter that includes the complete legal name of their business, the EIN, the business address and the reason they wish to close their account.
The owners of a corporation are shareholders (also known as stockholders) who obtain interest in the business by purchasing shares of stock. Shareholders elect a board of directors, who are responsible for managing the corporation.
After all, corporations need to have boards of directors and hold shareholder meetings -- which sounds more like a room full of suits than a single person working from home. However, all states do allow corporations to have just one owner. You can be the sole shareholder, director and officer for your company.
What do I have to do before I Dissolve a West Virginia Corporation?Hold a Directors meeting and record a resolution to Dissolve the West Virginia Corporation.Hold a Shareholder meeting to approve Dissolution of the West Virginia Corporation.File all required Annual Reports with the West Virginia Secretary of State.More items...
A shareholder, also referred to as a stockholder, is a person, company, or institution that owns at least one share of a company's stock, known as equity. Because shareholders essentially own the company, they reap the benefits of a business's success.
