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Dissolution is the process where a solute in a gaseous, liquid, or solid phase dissolves in a solvent to form a solution.
verb (used with object) dissolved, dissolving. to make a solution of, as by mixing with a liquid; pass into solution: to dissolve salt in water. to melt; liquefy: to dissolve sugar into syrup.
There is no direct Form 966 penalty for non-filing or late filing, but by not properly notifying the IRS of a dissolution or liquidation, it may result in collateral damage and other penalties.
Winding up an LLC in California can be a complex process. Seeking the guidance of an experienced California business lawyer can ensure compliance with laws and regulations, identify potential legal risks, and help draft and review necessary dissolution paperwork.
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