Arizona Business Dissolution
LAWYERS HELPING BUSINESS OWNERS
Dissolution, a process that leads to a formal end of a business entity, may be necessary due to any number of reasons which may or may not be voluntary. Whether it is due to shareholder or partner disagreements, a desire to sell a profitable business, or a need to get out of a business that is not working, the lawyers at Bellah Perez, PLLC will help properly dissolve or transition your business. With our skilled lawyers at your side you can rest assured that your rights and financial interests will be protected in this important legal matter.
Key Considerations When Ending a Business
Business dissolution involves a number of steps to ensure that all obligations are met and issues are managed efficiently. A written agreement covering the details of the dissolution is especially important if you have been operating as a partnership, corporation or limited liability company. Shareholders, partners, or members should be in agreement as to the dissolution. Additional steps and considerations may include:
- Division of business property as well as assumption of liabilities.
- Official filing of dissolution paperwork with the Arizona Corporation Commission in order to provide notice to any creditors that your business is ceasing operations.
- Cancelation of business permits, licenses, or business names you have been operating under to prevent unauthorized use of these items. You may also wish to transfer these to a new business entity.
- Payment of outstanding taxes or debts owed to the Internal Revenue Service, as well as completing any required tax filings.
- Sale of business assets or inventory.
- Final paychecks for all employees.
Protecting Your Rights and Financial Interests
Hopefully, closing, or selling, your business will be as easy as it was to create it. However, if you do find yourself in a situation where there are disagreements between partners, or where there is a need to negotiate a sale of a business, our experienced lawyers are here to assist you. The law firm of Bellah Perez, PLLC will diligently handle the tasks of transitioning a business as well as settle any disputes that may arise from this process.