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How to copy letter in the Plan of Dissolution

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hey this is attorney Elizabeth Potts Weinstein and today were going to talk about what to do if you have a California LLC or corporation that is for a business that no longer exists maybe you never even launched the business and you want to shut it down but the problem is is you dont want to have to pay the 800 a year franchise fee to the state of California so is there any way to get out of this if this business no longer actually exists and you just need to shut down the lseo corporation so lets get in to how to handle this situation so what this situation applies to is youre someone who create an LLC or a corporation in California and lets say you literally never launched this business but its been going on you you open up this LLC of Corporation months or years ago and its just been sitting there nothing is happening or you did launch the business and it existed for a while but it is now not existed for a while and you just need to shut cut this thing down and close that Loo

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What is the resolution of dissolution?

The first step in dissolving a corporation usually involves having your board of directors vote and adopt a resolution to dissolve the corporation. Generally, you start the dissolution process by holding a meeting of the board of directors to vote on a resolution to approve the dissolution of the corporation.

What is a dissolution letter?

A dissolution letter is a legal document that is used to terminate a partnership or contract between two parties. The letter is a formal way of informing the other party that you wish to end the agreement and outlines the reasons for the dissolution.

What is a plan of dissolution?

If the leadership of the organization decides that winding down is the best option, the organization will need a plan of dissolution. A plan of dissolution is essentially a written description of how the nonprofit intends to distribute its remaining assets and address its remaining liabilities.

What is Form 966 for merger?

Asset Liquidation: When a corporation decides to sell off its assets and distribute the proceeds among shareholders or stakeholders, Form 966 is required. This is common in mergers, acquisitions, or when a corporation chooses to distribute its assets before dissolving.

What is a certified copy for IRS form 966?

Updated November 3, 2020: A certified copy of a resolution to dissolve a corporation is an important document to maintain when it comes time to dissolve a company. This form is required by the IRS along with Form 966.

What is a certified copy of the resolution or plan?

Certified Resolution means a copy of a resolution or ordinance of the County certified by the County Clerk of the County to have been duly adopted by the County and to be in full force and effect on the date of such certification.

How do I submit Form 966?

Sign and date: **Ensure that the form is signed and dated by an authorized individual on behalf of the corporation. e. Mail the form: Send the completed Form 966 and any attachments to the appropriate IRS mailing address. The address can be found in the instructions accompanying the form or on the IRS website.

How do I dissolve a corporation in California?

How to Dissolve a Corporation in California Step 1: Shareholders Vote to Dissolve the Corporation. Step 2: Prepare and File a Certificate of Election. Step 3: Board of Directors Provides Written Notice of Corporations Dissolution. Step 4: Pay Taxes, Settle Debts, and Distribute Remaining Assets to Shareholders.

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How to copy letter in the Plan of Dissolution