If you want to dissolve your Washington Corporation or limited liability company (LLC), you’ll want to make sure you follow all the necessary steps. A failure to do so can result in the accrual of annual report fees and late fees. Not to mention, you might continue to receive phone calls and emails from people who believe you’re still in business. Simply follow the steps below and contact the McWilliams Law Group with questions.
What is the Dissolution of a Business?
The dissolution of a business is the official closure of your business with the State of Washington. You cannot simply turn off the lights and hang a “closed” sign in the front door to legally close down shop. All states have certain requirements that you must follow to officially wind up a corporation’s or LLC’s affairs. A business does not cease to exist unless you follow all of them.
The 7 Steps to Dissolve a Washington Corporation
The following are the necessary steps to officially dissolve a corporation in Washington:
- Submit a “Revenue Clearance Certificate Application” – You submit this application with the Washington Department of Revenue (DOR). You can file the Revenue Clearance Certificate Application online or by paper. The purpose of the form is to let the Department of Revenue know that you’ve paid all your taxes prior to closing business.
- Wait for the DOR to process the application – It typically takes the DOR about 10 days to process it. Once processed, you’ll receive a Revenue Clearance Certificate.
- Complete your Articles of Dissolution – You can download the Articles of Dissolution for a Washington “for profit” corporation here.
- Attach your certificate to the articles – When you receive your Revenue Clearance Certificate, attach it to your Articles of Dissolution. Your dissolution will not go into effect unless the two documents are attached.
- Submit the Articles of Dissolution – After attaching the Certificate, submit your Articles to the WA Secretary of State (SOS). You can usually upload them online or send in a paper copy. The SOS usually does not charge a fee to dissolve your business.
- Wait for processing – You have to give the SOS time to process the submission of your Articles. Filing could take up to a month or even longer.
- Inform your registered agent – Make sure you cancel your registered agent service or tell your agent you have dissolved your business.
The 2 Steps to Dissolve a Washington LLC
It is much simpler in Washington to dissolve an LLC as opposed to a corporation. The 2 steps to dissolution include:
- Fill out your Certificate of Dissolution – You can download the Certificate of Dissolution for a Washington LLC here.
- Submit the Certificate to the WA Secretary of State – You can upload the Certificate online or send it in via regular U.S. mail.
You typically do not have to submit any paperwork to the Department of Revenue to close an LLC. But just make sure you have paid any remaining taxes.
Contact The McWilliams Law Group for Help
When you are ready to open a new business, close a business, or take your current business to the next level, the lawyers at The McWilliams Law Group are here to help. We can help ensure that your operations provide you with the tax and liability protections that best fit your short- and long-term plans. Our attorneys work closely with business owners throughout Washington and California, providing individualized and strategic advice to help their businesses run smoothly. Contact us now and get the skilled business advice that you deserve.
