BUSINESS DEBTS

 

ASSET DISTRIBUTION

 

LIABILITIES

Dissolution Issues

 

When dissolving a business it is best to begin with recruiting an attorney to provide legal and financial counsel on the dissolution process. With this assistance, business owners can confidently proceed without concern of illegality or financial complications. Together with counsel, owners can properly value and sell business assets, pay off business debts, notify the proper agencies and file final tax returns. Owners will also need to notify business employees and service providers about the dissolution, as well as cancel or modify any business contracts. Throughout this entire process, owners should be careful to heed the counsel of professionals to avoid complications.