- Call us today! 559-431-6800
- Call us today! 559-431-6800
While starting a business can be exciting, sometimes circumstances change, and business owners may need to dissolve their companies. Dissolving a business can be a complex process that requires careful consideration of legal and financial matters. Our experienced business dissolution attorney can help guide you through the process of dissolving your business, whether it’s a partnership, LLC, corporation, or other legal entity. We will work with you to ensure that all legal and financial obligations are met and that the dissolution is carried out in a way that minimizes liability and protects your interests.
We understand that dissolving a business can be an emotional and challenging process. Our attorney will provide compassionate guidance and support throughout the process, helping you make informed decisions and ensuring that your rights and interests are protected.
Barrus and Roberts PC understands that starting and running a business can be challenging, which is why we are here to help. Our attorney is committed to providing excellent service and support to our clients, and we will work tirelessly to ensure that your business is set up for success. Contact us at 559-431-6800 or use our online contact form to schedule a consultation and learn more about how we can help you with your business formation and dissolution needs.
Barrus and Roberts PC serves the greater Fresno, CA area, including Madera, Kings, and Tulare counties.
You file Articles of Organization with the California Secretary of State, file an initial Statement of Information within ninety days of formation, begin paying the $800 annual minimum franchise tax, obtain an EIN, and adopt an operating agreement. Greg Roberts handles the filings and drafts the operating agreement so the liability protection is real rather than a formality.
Every California LLC and corporation owes an $800 annual minimum franchise tax to the Franchise Tax Board, whether or not the business made a profit. California LLCs also owe an additional gross-receipts fee once total California income exceeds $250,000. These costs should factor into your decision before you form an entity.
An LLC is simpler to maintain, allows flexible allocation of profits, and fits most owner-operated California businesses. A corporation offers a familiar share structure, formal governance, and is preferable if you plan to bring in outside investors or issue stock to employees. Both provide liability protection when properly maintained.
Once a business is consistently profitable, an S-corp election lets the owner take a reasonable salary and receive the remaining profit as distributions that are not subject to self-employment tax, which can produce real savings. The election adds payroll and compliance obligations, so it is worth doing only above a certain profit level. Greg Roberts reviews the numbers before filing.
You obtain the required owner or shareholder approval, file the appropriate certificate of dissolution or cancellation with the Secretary of State, file a final tax return marked final with the Franchise Tax Board, settle debts, notify creditors, and distribute any remaining assets. Greg Roberts manages the sequence so the wind-down is complete.
The entity remains on record and keeps accruing the $800 annual franchise tax along with penalties and interest, and the owners can remain exposed to claims and to suspension by the state. Formally dissolving ends those obligations and closes the entity cleanly.