Notify State & Local Authorities
When you started your business, you had filed your articles of incorporation with the state of California. Also, you sent them annual reports and paid taxes accordingly. When you shut down your business, it is important to:
- fill out all the necessary forms both at state and federal level;
- notify the state that your business is closing;
- follow the IRS guidelines for alerting it of the dissolution;
- make sure your business will not be longer liable for filing taxes and reports.
There are many opportunities for error when filing all the forms, which could prolong the dissolution process or attract lawsuits. We will support you in the process, and complete the forms together, making sure these comply both with the law and with your company’s particular situation.
Winding up the Business
Our counsellors will help you in paying all your debts, then in paying yourself and/or your business partners, and also in notifying all the interested parties about the dissolution.
- Inform the employees and start the mass layoff, if it is the case;
- Inform potential creditors of an impending closing;
- Inform lenders, insurers, suppliers, vendors, and service providers to terminate those contracts;
- Pay all the valid current debts and compensations to employees and creditors;
- Distribute the remaining business assets to the owners/shareholders, as stated in your organizational documents.
Terminate business licenses & foreign registration
- Does your business own any license or operational permit? The tax agency or the licensing agency also need to be notified about the dissolution.
- Does your business have a foreign registration with another state? The state authorities need to find out about the business closing too.
In both cases, additional forms and steps need to be taken, and we can do them for you simply and effective.
Talk with our business attorneys today to plan the dissolving process and avoid any further liability after dissolution. Give us a call!
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If you need a “ Closer”, go see Troy. Troy has been one of the best attorneys I have ever worked with. I don’t typically give reviews but after the last case Troy helped me settle out of court, I won’t hesitate to use Troy again! Thanks for all you do Troy !
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I left a voicemail for Tom late Sunday evening and received a phone call first thing the next morning.
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Tom provided sound and logical advice, during a very stressful and uncertain time. At times I asked him to be more aggressive and was often met with the pros and cons of that decision, allowing me to understand the approach and thought process behind his strategy.
Ultimately he provided options for several paths for us to take, worked swiftly, and got us where we needed to be.
He reached out several times to check on my sanity and make sure I was good.
As someone with very high expectations, I would highly recommend his services. He provided expertise that proved to be successful, and also took the time to make sure I was emotionally solid.
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What was thought to be a simple breach of contract turned into a nightmare. Through their tenacity and their deep knowledge of the law, we were successful. There is no reason to look any further as you will not get any better representation than this firm. I highly recommend them and strongly suggest that if you are considering starting a business or are already managing one, this firm will guide you, avoiding the troubled waters businesses sometimes find themselves in.
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Johnny Nitti helped us with our estate plan. He was very meticulous while drafting the plan and spent enough time to explain the details to us. He filed the deed with county recorder and paid for the fees himself. Overall, Johnny did a great job and we definitely plan to work with him in the future for any updates to our EP.
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Tom Gallagher is very knowledgeable and helpful when it comes to business law. I reached out to him reguarding the Pandemic and my salon and I’m so glad I did. Many times stress and hard times can fog clarity and he really helped me understand the laws.
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