How to Dissolve a Corporation in Colorado (How to legally Close a Colorado Business)
COLORADO BUSINESS SERVICES CORPORATION Incorporate in Colorado Colorado Professional Corporation Colorado Nonprofit Corporation CO Corporation Foreign Qualification Colorado Corporation Annual Report Colorado Corporation Dissolution LLC Form a LLC in Colorado CO LLC Foreign Qualification Colorado LLC Annual Report Colorado LLC Dissolution OTHER COLORADO BUSINESS SERVICES Colorado Good Standing Certificate Colorado Apostille Colorado DBA Name Colorado Registered Agent CO Corporation Kit and Seal Colorado Certified Copies CO Business Reinstatement CO Company Name Reservation CO Tax Status Compliance Certificate CO Attorney Good Standing Certificate Colorado Property Deed CO Employer Requirements QUICK ENTRY FORMS Colorado Incorporation Colorado LLC CO Professional Corporation CO Nonprofit Corporation CO Foreign Corporation CO Foreign LLC CO LLC Dissolution CO Corporation Dissolution CORPORATE GLOSSARY   Administrative Dissolution Agent for Service of Process Apostille Apportionment Articles of Incorporation Articles of Organization Assumed Name At Will LLC Authorized Shares B Corporation Benefit Corporation Board of Directors Business Dissolution Business Entity Bylaws Certificate of Existence Certificate of Status Certified Copy Close Corporation Common Stock Conversion Corporate Bylaws Corporate Name Reservation Corporate Stock DBA Disregarded Entity Dividends ESOP Excise Tax Federal Tax ID Ficticious Name Foreign Qualification Franchise Tax General Partnership Good Standing Certificate Incorporator Involuntary Dissolution IRS Form 966 ITIN Limited Liability Company Limited Partnership Liquidation LLC LP Majority Shareholder Meetings Merger Nexus Non-Stock Corporation Nonprofit Corporation Obligated Member LLC Organizer Paid-in Capital Paid-in Surplus Par Value Personal Service Corporation Preferred Stock Privilege Tax Professional Corporation Professional Service Proxy Registered Agent Registered Office Reporting Requirements Revocation S Corporation Series LLC Service Mark Shareholder Sole Proprietor Stated Capital Statutory Agent Stock Certificate Term LLC Trade Name Trademark Trust Trustee Winding Up	What is Colorado Corporation Dissolution? A Colorado Corporation is created when the CO Secretary of State approves the Articles of Incorporation. A record of the Colorado Corporation is added to the list of Corporations which have officially registered with the Colorado Secretary of State.  Once a Corporation is registered with the Colorado Secretary of State, that Corporation immediately has both reporting and tax obligations which incur penalties if the obligations are not met by the required deadlines.   more... less... A Colorado Corporation is created when the CO Secretary of State approves the Articles of Incorporation. A record of the Colorado Corporation is added to the list of Corporations which have officially registered with the Colorado Secretary of State.  Once a Corporation is registered with the Colorado Secretary of State, that Corporation immediately has both reporting and tax obligations which incur penalties if the obligations are not met by the required deadlines.   If you've registered a Colorado Corporation with the Colorado Secretary of State and want to cease business activities you have to let the CO Secretary of State know that you intend to close your company.  Only after the CO Secretary of State has made sure that all of the obligations of the Colorado Corporation have been fulfilled will the Secretary of State approve of the closure of the company. When the Colorado Secretary of State approves the closing of a CO Corporation, that Colorado Corporation is said to be Dissolved.   The process of Dissolving a Colorado Corporation is called Colorado Corporation Dissolution. Why do I need to Dissolve a Colorado Corporation? As soon as a Colorado Corporation is registered with the CO Secretary of State, that Corporation is responsible for recurring obligations of the Colorado Secretary of State and the Colorado Department of Revenue.  If the Colorado Corporation does not file reports or pay taxes then that CO Corporation could be responsible for penalties which go up as time goes by. Unless you Dissolve your Colorado Corporation with the Colorado Secretary of State that CO Corporation will be responsible for all recurring fees and penalties. What do I have to do to Dissolve a Colorado Corporation? Colorado Corporation Dissolution is one part of a larger process commonly called the "Winding Up" process.   more... less... Colorado Corporation Dissolution is one part of a larger process commonly called the "Winding Up" process. There are things you need to do before you can request approval of Corporation Dissolution from the Colorado Secretary of State; and things that you have to do after the CO Secretary of State has approved Dissolution of the Colorado Corporation.  What you have to do both before and after the Colorado Corporation is Dissolved largely depends on how much stock, if any, has been issued and how much and what kind of debts and liabilities that the Colorado Corporation has.  If the Colorado Corporation has not commenced business then the CO Corporation Dissolution process is easier. What do I have to do before I Dissolve a Colorado Corporation? Things you need to do before you Dissolve a Colorado Corporation.   1. Hold a Directors meeting and record a resolution to Dissolve the Colorado Corporation   2. Hold a Shareholder meeting to approve Dissolution of the Colorado Corporation   3. File all required Periodic Reports with the Colorado Secretary of State   4. Clear up any business debt   5. Pay all taxes and administrative fees owed by the Colorado Corporation more... less... 1. Hold a Board of Directors meeting and record a resolution to Dissolve the Colorado Corporation If a Board of Directors has been appointed for the Colorado Corporation then the Board is required to adopt a resolution to Dissolve the CO Corporation. Minutes of the meeting must be recorded and retained in the business records. If the Board of Direcrtors has not been appointed then the Incorporator(s) have to apply for Dissolution of the Colorado Corporation. We can transcribe and compile minutes or approvals into a form that is legally recognized by the Colorado Secretary of State. 2. Hold a Shareholder meeting to approve Dissolution of the Colorado Corporation If a Colorado Corporation has issued shares of stock then a majority of Corporate Shareholders must approve the Dissolution plan. The approval actions should be documented and kept in the business records. If no shares have been issued then the Colorado Corporation Dissolution process is easier. If necessary, we can transcribe and compile minutes into a form that is legally recognized by the Colorado Secretary of State. 3. File all required Periodic Reports with the Colorado Secretary of State The Colorado Secretary of State will not approve the Dissolution of a CO Corporation until all required reports have been filed. We can file any required Periodic Report with the CO Secretary of State. 4. Clear up any business debts All creditors of a Colorado Corporation should be given notice of the pending Corporation Dissolution. Each creditor should be given a mailing address to which they may submit claims as well as a deadline by which claims may be submitted. While the Colorado Secretary of State does not legally require the publication of a Notice of Dissolution of a Colorado Corporation, publication is a good way to notify anyone who might have a claim against the Colorado Corporation.  Evidence of publication might prove useful down the line if someone makes a claim against the CO Corporation after the Colorado Corporation has been dissolved. 5. Pay all taxes and administrative fees owed by the Colorado Corporation The Colorado Secretary of State will definitely not approve the Dissolution of a Colorado Corporation until all outstanding taxes and applicable registration and administrative fees have been paid. less... What do I have to do after I Dissolve a Colorado Corporation? Things you have to do after you Incorporate in Colorado.   1. Distribute all remaining assets of the Colorado Corporation   2. Close all business bank accounts of the Colorado Corporation   3. Cancel all local business licenses and permits   4. File Form 966 with the IRS   5. Cancel the IRS account associated with the CO Corporation's Federal Tax ID (EIN) more... less... 1. Distribute all remaining assets of the Colorado Corporation If the Colorado Corporation has any remaining assets, these may be divided according to the Shareholders' ownership interests in the CO Corporation. All distributions to Corporate Shareholders must be reported to the IRS. 2. Close all business bank accounts of the Colorado Corporation If there are any business accounts that have been opened for the Colorado Corporation then those accounts must be closed. If Corporate business accounts are left open there may be liability and obligations of the Dissolved Colorado Corporation which could lead to legal problems. 3. Cancel all local business licenses and permits of the CO Corporation If the Colorado Corporation has obtained any state, regional, county or city business licenses or permits, each of those must be cancelled to avoid any reporting or fiscal obligations of the Colorado Corporation. This includes business registration licenses as well as reseller permits. 4. File IRS Form 966 All Dissolved Colorado Corporations must file IRS Form 966 with the US Internal Revenue Service. This filing is required within 30 days after the final Dissolution plan is approved. Filing IRS Form 966 lets the Federal Government know that the Colorado Corporation has been legally Dissolved so that it may take the appropriate actions. We can prepare IRS Form 966 for you to file. 5. Cancel the IRS account associated with the CO Corporation's Federal Tax ID (EIN) A Federal Tax ID, or Federal Employer Identification Number (EIN), is like the Social Security Number for the Colorado Corporation.  Once the IRS links an EIN to a Colorado Corporation, that EIN stays with the Colorado Corporation even after the Company has been Dissolved by the Colorado Secretary of State. When the IRS processes the final tax return for the Colorado Corporation, they automatically make the EIN inactive.  However, the account associated with the EIN is not automatically closed.  Closing the account associated with the EIN lessens the likelihood of any problems with the EIN account, or with the IRS, in the future. If you should decide to revivie the Colorado Corporation down the line the IRS will reactivate the old EIN for your new Business. Before a Colorado Corporation can close an EIN account, it must be in Good Standing with the IRS.  The Colorado Corporation must have filed all required tax returns and paid any applicable fees and penalties due to the IRS.  The Colorado Corporation cannot close its EIN account until the IRS has received payment for any tax amounts the Company may owe. We can prepare the formal documents which you can sign and submit to the IRS in order to close the account associated with your EIN. How long does it take to Dissolve a Colorado Corporation? The time it takes to Dissolve a Colorado Corporation varies depending on how long it takes to complete the actions that are required in each specific case - holding meetings, closing accounts, distributing assets, etc. Once the initial actions are completed, the Colorado Secretary of State usually takes around 1-2 business days to process the Articles of Dissolution.    more... less... The time it takes to Dissolve a Colorado Corporation varies depending on how long it takes to complete the actions that are required in each specific case - holding meetings, closing accounts, distributing assets, etc. Once the initial actions are completed, the Colorado Secretary of State usually takes around 1-2 business days to process the Articles of Dissolution. Processing times for Colorado Corporation Dissolution filings vary depending on the work load of the Secretary of State's staff.  We've found that normal processing of Colorado Dissolution filings takes the state around 1-2 business days. PLEASE NOTE: WE CANNOT GUARANTEE COLORADO SECRETARY OF STATE PROCESSING TIMES. We are dependent on, and have no control over, the staff and systems of the Colorado Secretary of State . In our experience 1-2 business days is the time it usually takes the Colorado Secretary of State to process a Colorado Dissolution filing. We get your Colorado Corporation Dissolution filing to the CO Secretary of State ASAP. Once it is at the state we have no control over the Colorado Dissolution approval process. How much does it cost to Dissolve a Corporation in Colorado? The total cost to Dissolve a Colorado Corporation varies depending on exactly what is required for each specific CO Dissolution. We charge $249.00 plus any state fees for our Colorado Corporation Dissolution services. This includes: Same day processing Transcribe minutes of Board of Directors meeting which proposes Dissolution Transcribe minutes of Shareholders meeting at which Dissolution was approved Prepare and file Articles of Dissolution with the Colorado Secretary of State Prepare US IRS Form 966 for you to sign and file Prepare documents to cancel Federal EIN account Certified copy of Dissolution filing from CO Secretary of State Priority Mail Delivery of all documents Unlimited Customer Support We also offer these Colorado Corporation Dissolution services separately as explained on the right side of this web page. What do I have to do if I want to Dissolve a Foreign Corporation that is tied to a CO Domestic Corporation? If there are Foreign Corporations in states other than Colorado that are tied to the Domestic Colorado Corporation then each of those Foreign Corporations must be Dissolved before the Colorado Corporation is legally Dissolved. How long before someone can use my Corporation name in Colorado after I Dissolve? A Colorado Corporation company name becomes available for use by any Colorado Corporation or LLC after the Colorado Corporation is Dissolved by the Colorado Secretary of State. There are no Corporation company name protections in Colorado once a Colorado Corporation has been Dissolved. Do I have to publish a Notice of Dissolution of the Colorado Corporation? There are no state of Colorado requirements for the publication of a Notice of Dissolution of a Colorado Corporation. While the Colorado Secretary of State does not legally require the publication of a Notice of Dissolution of a Colorado Corporation, publication is a good way to notify anyone who might have a claim against the Colorado Corporation.  Evidence of publication might prove useful down the line if someone makes a claim against the CO Corporation after the Colorado Corporation has been dissolved.	COLORADO CORPORATION DISSOLUTION SERVICES For $249.00 our Colorado Corporation Dissolution Services include: Same day processing explain We will start processing your application for a Colorado Corporation Dissolution on the same day that you submit your order.  We get your CO Corporation Dissolution filing to the Colorado Secretary of State as fast as possible.  Once they get the application, the CO Secretary of State usually takes 1-2 business days to process a Colorado Corporation Dissolution filing. Transcribe minutes of Board of Directors meeting which proposes Dissolution Transcribe minutes of Shareholders meeting at which Dissolution was approved Prepare and file Articles of Dissolution with the Colorado Secretary of State Prepare US IRS Form 966 for you to sign and file Prepare documents to cancel the Federal EIN account linked to the Colorado Corporation Certified copy of Dissolution filing from CO Secretary of State Priority Mail Delivery of all documents Unlimited Customer Support A LA CARTE COLORADO DISSOLUTION SERVICES If you don't need our complete Colorado Corporation Dissolution package we offer our Dissolution services separately check the box next to any option, price will be calculated automatically Transcribe Board meeting minutes - $75.00   explain If a Board of Directors has been appointed for the Colorado Corporation then the Board is required to adopt a resolution to Dissolve the CO Corporation. Minutes of the meeting must be recorded and retained in the business records. We will transcribe the minutes of the Board meeting into a format that is legally acceptable in the state of Colorado. We will also compile a formal resolution to Dissolve the Colorado Corporation for your records. Transcribe Shareholder meeting minutes - $75.00   explain If a Colorado Corporation has issued shares of stock then a majority of Corporate Shareholders must approve the Dissolution plan. The approval actions should be documented and kept in the business records. We will transcribe the minutes of the Shareholder meeting into a format that is legally acceptable in the state of Colorado. Prepare and file Articles of Dissolution - $75.00   explain As soon as the preliminary Colorado Corporation Dissolution actions are completed we will prepare and file the Articles of Dissolution with the Colorado Secretary of State in the quickest way possible Prepare IRS Form 966 - $65.00   explain All Dissolved Colorado Corporations must file IRS Form 966 with the US Internal Revenue Service. This filing is required within 30 days after the final Dissolution plan is approved. Filing IRS Form 966 lets the Federal Government know that the Colorado Corporation has been legally Dissolved. We will prepare IRS Form 966 for you to file. Prepare EIN cancellation documents - $65.00   explain A Federal Tax ID, or Federal Employer Identification Number (EIN), is like the Social Security Number for the Colorado Corporation.  Once the IRS links an EIN to a Colorado Corporation, that EIN stays with the Colorado Corporation even after the Company has been Dissolved by the Colorado Secretary of State. When the IRS processes the final tax return for the Colorado Corporation, they automatically make the EIN inactive.  However, the account associated with the EIN is not automatically closed by the IRS.  Closing the account associated with the EIN lessens the likelihood of any problems with the EIN account - or with the IRS - in the future. We will prepare formal documents to get your Colorado Corporation's EIN account closed as quickly as possible. Processing fees $249.00 Colorado Dissolution fees $15.00 Optional services $0.00 Total cost $264.00 OUR ADVANTAGE We start processing your Colorado Corporation Dissolution order as soon as it arrives. We get your documents to the Colorado Secretary of State in the quickest possible way.  We guarantee our work.  If you're not satisfied with our Colorado Dissolution services we will refund 100% of your processing fees. We've been helping Corporations legally Dissolve in Colorado for over ten years.  Our A+ BBB rating speaks for itself! 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