How to Dissolve a Corporation in Maine (How to legally Close a Maine Business)
MAINE BUSINESS SERVICES CORPORATION Incorporate in Maine Maine Professional Corporation Maine Nonprofit Corporation ME Corporation Foreign Qualification Maine Corporation Annual Report Maine Corporation Dissolution LLC Form a LLC in Maine ME LLC Foreign Qualification Maine LLC Annual Report Maine LLC Dissolution OTHER MAINE BUSINESS SERVICES Maine Good Standing Certificate Maine Apostille Maine DBA Name Maine Registered Agent ME Corporation Kit and Seal Maine Certified Copies ME Business Reinstatement ME Company Name Reservation ME Tax Status Compliance Certificate ME Attorney Good Standing Certificate Maine Property Deed ME Employer Requirements QUICK ENTRY FORMS Maine Incorporation Maine LLC ME Professional Corporation ME Nonprofit Corporation ME Foreign Corporation ME Foreign LLC ME LLC Dissolution ME 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 Maine Corporation Dissolution? A Maine Corporation is created when the ME Secretary of State approves the Articles of Incorporation. A record of the Maine Corporation is added to the list of Corporations which have officially registered with the Maine Secretary of State.  Once a Corporation is registered with the Maine 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 Maine Corporation is created when the ME Secretary of State approves the Articles of Incorporation. A record of the Maine Corporation is added to the list of Corporations which have officially registered with the Maine Secretary of State.  Once a Corporation is registered with the Maine 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 Maine Corporation with the Maine Secretary of State and want to cease business activities you have to let the ME Secretary of State know that you intend to close your company.  Only after the ME Secretary of State has made sure that all of the obligations of the Maine Corporation have been fulfilled will the Secretary of State approve of the closure of the company. When the Maine Secretary of State approves the closing of a ME Corporation, that Maine Corporation is said to be Dissolved.   The process of Dissolving a Maine Corporation is called Maine Corporation Dissolution. Why do I need to Dissolve a Maine Corporation? As soon as a Maine Corporation is registered with the ME Secretary of State, that Corporation is responsible for recurring obligations of the Maine Secretary of State and the Maine Department of Revenue.  If the Maine Corporation does not file reports or pay taxes then that ME Corporation could be responsible for penalties which go up as time goes by. Unless you Dissolve your Maine Corporation with the Maine Secretary of State that ME Corporation will be responsible for all recurring fees and penalties. What do I have to do to Dissolve a Maine Corporation? Maine Corporation Dissolution is one part of a larger process commonly called the "Winding Up" process.   more... less... Maine 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 Maine Secretary of State; and things that you have to do after the ME Secretary of State has approved Dissolution of the Maine Corporation.  What you have to do both before and after the Maine 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 Maine Corporation has.  If the Maine Corporation has not commenced business then the ME Corporation Dissolution process is easier. What do I have to do before I Dissolve a Maine Corporation? Things you need to do before you Dissolve a Maine Corporation.   1. Hold a Directors meeting and record a resolution to Dissolve the Maine Corporation   2. Hold a Shareholder meeting to approve Dissolution of the Maine Corporation   3. File all required Annual Reports with the Maine Secretary of State   4. Clear up any business debt   5. Pay all taxes and administrative fees owed by the Maine Corporation more... less... 1. Hold a Board of Directors meeting and record a resolution to Dissolve the Maine Corporation If a Board of Directors has been appointed for the Maine Corporation then the Board is required to adopt a resolution to Dissolve the ME 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 Maine Corporation. We can transcribe and compile minutes or approvals into a form that is legally recognized by the Maine Secretary of State. 2. Hold a Shareholder meeting to approve Dissolution of the Maine Corporation If a Maine 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 Maine Corporation Dissolution process is easier. If necessary, we can transcribe and compile minutes into a form that is legally recognized by the Maine Secretary of State. 3. File all required Annual Reports with the Maine Secretary of State The Maine Secretary of State will not approve the Dissolution of a ME Corporation until all required reports have been filed. We can file any required Annual Report with the ME Secretary of State. 4. Clear up any business debts All creditors of a Maine 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 Maine Secretary of State does not legally require the publication of a Notice of Dissolution of a Maine Corporation, publication is a good way to notify anyone who might have a claim against the Maine Corporation.  Evidence of publication might prove useful down the line if someone makes a claim against the ME Corporation after the Maine Corporation has been dissolved. 5. Pay all taxes and administrative fees owed by the Maine Corporation The Maine Secretary of State will definitely not approve the Dissolution of a Maine 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 Maine Corporation? Things you have to do after you Incorporate in Maine.   1. Distribute all remaining assets of the Maine Corporation   2. Close all business bank accounts of the Maine Corporation   3. Cancel all local business licenses and permits   4. File Form 966 with the IRS   5. Cancel the IRS account associated with the ME Corporation's Federal Tax ID (EIN) more... less... 1. Distribute all remaining assets of the Maine Corporation If the Maine Corporation has any remaining assets, these may be divided according to the Shareholders' ownership interests in the ME Corporation. All distributions to Corporate Shareholders must be reported to the IRS. 2. Close all business bank accounts of the Maine Corporation If there are any business accounts that have been opened for the Maine Corporation then those accounts must be closed. If Corporate business accounts are left open there may be liability and obligations of the Dissolved Maine Corporation which could lead to legal problems. 3. Cancel all local business licenses and permits of the ME Corporation If the Maine 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 Maine Corporation. This includes business registration licenses as well as reseller permits. 4. File IRS Form 966 All Dissolved Maine 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 Maine 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 ME Corporation's Federal Tax ID (EIN) A Federal Tax ID, or Federal Employer Identification Number (EIN), is like the Social Security Number for the Maine Corporation.  Once the IRS links an EIN to a Maine Corporation, that EIN stays with the Maine Corporation even after the Company has been Dissolved by the Maine Secretary of State. When the IRS processes the final tax return for the Maine 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 Maine Corporation down the line the IRS will reactivate the old EIN for your new Business. Before a Maine Corporation can close an EIN account, it must be in Good Standing with the IRS.  The Maine Corporation must have filed all required tax returns and paid any applicable fees and penalties due to the IRS.  The Maine 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 Maine Corporation? The time it takes to Dissolve a Maine 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 Maine Secretary of State usually takes around 5-10 business days to process the Articles of Dissolution.    more... less... The time it takes to Dissolve a Maine 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 Maine Secretary of State usually takes around 5-10 business days to process the Articles of Dissolution. Processing times for Maine Corporation Dissolution filings vary depending on the work load of the Secretary of State's staff.  We've found that normal processing of Maine Dissolution filings takes the state around 5-10 business days. PLEASE NOTE: WE CANNOT GUARANTEE MAINE SECRETARY OF STATE PROCESSING TIMES. We are dependent on, and have no control over, the staff and systems of the Maine Secretary of State . In our experience 5-10 business days is the time it usually takes the Maine Secretary of State to process a Maine Dissolution filing. We get your Maine Corporation Dissolution filing to the ME Secretary of State ASAP. Once it is at the state we have no control over the Maine Dissolution approval process. How much does it cost to Dissolve a Corporation in Maine? The total cost to Dissolve a Maine Corporation varies depending on exactly what is required for each specific ME Dissolution. We charge $249.00 plus any state fees for our Maine 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 Maine 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 ME Secretary of State Priority Mail Delivery of all documents Unlimited Customer Support We also offer these Maine 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 ME Domestic Corporation? If there are Foreign Corporations in states other than Maine that are tied to the Domestic Maine Corporation then each of those Foreign Corporations must be Dissolved before the Maine Corporation is legally Dissolved. Can I revoke Dissolution after it is approved by Maine? The Dissolution of a Maine Corporation can be revoked by filing Articles of Revocation of Dissolution with the Maine Secretary of State within 120 days of the date on which the Maine Secretary of State approved the Maine Corporation's Dissolution. How long before someone can use my Corporation name in Maine after I Dissolve? A Maine Corporation company name becomes available for anyone to use when the Maine Corporation is Dissolved by the Maine Secretary of State. There are no Corporation company name protections in Maine once a Maine Corporation has been Dissolved by the Maine Secretary of State. Do I have to publish a Notice of Dissolution of the Maine Corporation? There are no state of Maine requirements for the publication of a Notice of Dissolution of a Maine Corporation. While the Maine Secretary of State does not legally require the publication of a Notice of Dissolution of a Maine Corporation, publication is a good way to notify anyone who might have a claim against the Maine Corporation.  Evidence of publication might prove useful down the line if someone makes a claim against the ME Corporation after the Maine Corporation has been dissolved.	MAINE CORPORATION DISSOLUTION SERVICES For $249.00 our Maine Corporation Dissolution Services include: Same day processing explain We will start processing your application for a Maine Corporation Dissolution on the same day that you submit your order.  We get your ME Corporation Dissolution filing to the Maine Secretary of State as fast as possible.  Once they get the application, the ME Secretary of State usually takes 5-10 business days to process a Maine 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 Maine 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 Maine Corporation Certified copy of Dissolution filing from ME Secretary of State Priority Mail Delivery of all documents Unlimited Customer Support A LA CARTE MAINE DISSOLUTION SERVICES If you don't need our complete Maine 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 Maine Corporation then the Board is required to adopt a resolution to Dissolve the ME 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 Maine. We will also compile a formal resolution to Dissolve the Maine Corporation for your records. Transcribe Shareholder meeting minutes - $75.00   explain If a Maine 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 Maine. Prepare and file Articles of Dissolution - $75.00   explain As soon as the preliminary Maine Corporation Dissolution actions are completed we will prepare and file the Articles of Dissolution with the Maine Secretary of State in the quickest way possible Prepare IRS Form 966 - $65.00   explain All Dissolved Maine 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 Maine 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 Maine Corporation.  Once the IRS links an EIN to a Maine Corporation, that EIN stays with the Maine Corporation even after the Company has been Dissolved by the Maine Secretary of State. When the IRS processes the final tax return for the Maine 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 Maine Corporation's EIN account closed as quickly as possible. Processing fees $249.00 Maine Dissolution fees $80.00 Optional services $0.00 Total cost $329.00 OUR ADVANTAGE We start processing your Maine Corporation Dissolution order as soon as it arrives. We get your documents to the Maine Secretary of State in the quickest possible way.  We guarantee our work.  If you're not satisfied with our Maine Dissolution services we will refund 100% of your processing fees. We've been helping Corporations legally Dissolve in Maine for over ten years.  Our A+ BBB rating speaks for itself! 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