How to Dissolve a Corporation in New Jersey (How to legally Close a New Jersey Business)
NEW JERSEY BUSINESS SERVICES CORPORATION Incorporate in New Jersey New Jersey Professional Corporation New Jersey Nonprofit Corporation NJ Corporation Foreign Qualification New Jersey Corporation Annual Report New Jersey Corporation Dissolution LLC Form a LLC in New Jersey NJ LLC Foreign Qualification New Jersey LLC Annual Report New Jersey LLC Dissolution OTHER NEW JERSEY BUSINESS SERVICES New Jersey Good Standing Certificate New Jersey Apostille New Jersey DBA Name New Jersey Registered Agent NJ Corporation Kit and Seal New Jersey Certified Copies NJ Business Reinstatement NJ Company Name Reservation NJ Tax Status Compliance Certificate NJ Attorney Good Standing Certificate New Jersey Property Deed NJ Employer Requirements QUICK ENTRY FORMS New Jersey Incorporation New Jersey LLC NJ Professional Corporation NJ Nonprofit Corporation NJ Foreign Corporation NJ Foreign LLC NJ LLC Dissolution NJ 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 New Jersey Corporation Dissolution? A New Jersey Corporation is created when the NJ Department of Treasury approves the Certificate of Incorporation. A record of the New Jersey Corporation is added to the list of Corporations which have officially registered with the New Jersey Department of Treasury.  Once a Corporation is registered with the New Jersey Department of Treasury, 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 New Jersey Corporation is created when the NJ Department of Treasury approves the Certificate of Incorporation. A record of the New Jersey Corporation is added to the list of Corporations which have officially registered with the New Jersey Department of Treasury.  Once a Corporation is registered with the New Jersey Department of Treasury, 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 New Jersey Corporation with the New Jersey Department of Treasury and want to cease business activities you have to let the NJ Department of Treasury know that you intend to close your company.  Only after the NJ Secretary of State has made sure that all of the obligations of the New Jersey Corporation have been fulfilled will the Department of Treasury approve of the closure of the company. When the New Jersey Department of Treasury approves the closing of a NJ Corporation, that New Jersey Corporation is said to be Dissolved.   The process of Dissolving a New Jersey Corporation is called New Jersey Corporation Dissolution. A New Jersey Corporation must have filed all its required Annual Reports with the NJ Department of Treasury before the New Jersey Department of Treasury will approve the Dissolution of the NJ Corporation. Also, a New Jersey Corporation must obtain a Tax Clearance Certificate from the NJ Department of Revenue before the NJ Department of Treasury will approve Dissolution of a New Jersey Corporation. Why do I need to Dissolve a New Jersey Corporation? As soon as a New Jersey Corporation is registered with the NJ Department of Treasury, that Corporation is responsible for recurring obligations of the New Jersey Department of Treasury and the New Jersey Division of Revenue.  If the New Jersey Corporation does not file reports or pay taxes then that NJ Corporation could be responsible for penalties which go up as time goes by. Unless you Dissolve your New Jersey Corporation with the New Jersey Department of Treasury that NJ Corporation will be responsible for all recurring fees and penalties. What do I have to do to Dissolve a New Jersey Corporation? New Jersey Corporation Dissolution is one part of a larger process commonly called the "Winding Up" process.   more... less... New Jersey 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 New Jersey Department of Treasury; and things that you have to do after the NJ Department of Treasury has approved Dissolution of the New Jersey Corporation.  What you have to do both before and after the New Jersey 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 New Jersey Corporation has.  If the New Jersey Corporation has not commenced business then the NJ Corporation Dissolution process is easier. What do I have to do before I Dissolve a New Jersey Corporation? Things you need to do before you Dissolve a New Jersey Corporation.   1. Hold a Directors meeting and record a resolution to Dissolve the New Jersey Corporation   2. Hold a Shareholder meeting to approve Dissolution of the New Jersey Corporation   3. File all required Annual Reports with the New Jersey Department of Treasury   4. File all required tax returns with the New Jersey Division of Revenue   5. Clear up any business debt   6. Pay all taxes and administrative fees owed by the New Jersey Corporation more... less... 1. Hold a Board of Directors meeting and record a resolution to Dissolve the New Jersey Corporation If a Board of Directors has been appointed for the New Jersey Corporation then the Board is required to adopt a resolution to Dissolve the NJ 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 New Jersey Corporation. We can transcribe and compile minutes or approvals into a form that is legally recognized by the New Jersey Department of Treasury. 2. Hold a Shareholder meeting to approve Dissolution of the New Jersey Corporation If a New Jersey 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 New Jersey Corporation Dissolution process is easier. If necessary, we can transcribe and compile minutes into a form that is legally recognized by the New Jersey Department of Treasury. 3. File all required Annual Reports with the New Jersey Department of Treasury The New Jersey Department of Treasury will not approve the Dissolution of a NJ Corporation until all required reports have been filed. We can file any required Annual Report with the NJ Department of Treasury. 4. File all required tax returns with the New Jersey Division of Revenue The New Jersey Department of Treasury will not approve the Dissolution of any NJ Corporation until that Corporation has fulfilled all its tax obligations with the New Jersey Division of Revenue. 5. Clear up any business debts All creditors of a New Jersey 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 New Jersey Department of Treasury does not legally require the publication of a Notice of Dissolution of a New Jersey Corporation, publication is a good way to notify anyone who might have a claim against the New Jersey Corporation.  Evidence of publication might prove useful down the line if someone makes a claim against the NJ Corporation after the New Jersey Corporation has been dissolved. 6. Pay all taxes and administrative fees owed by the New Jersey Corporation The New Jersey Department of Treasury will definitely not approve the Dissolution of a New Jersey 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 New Jersey Corporation? Things you have to do after you Incorporate in New Jersey.   1. Distribute all remaining assets of the New Jersey Corporation   2. Close all business bank accounts of the New Jersey Corporation   3. Cancel all local business licenses and permits   4. File Form 966 with the IRS   5. Cancel the IRS account associated with the NJ Corporation's Federal Tax ID (EIN) more... less... 1. Distribute all remaining assets of the New Jersey Corporation If the New Jersey Corporation has any remaining assets, these may be divided according to the Shareholders' ownership interests in the NJ Corporation. All distributions to Corporate Shareholders must be reported to the IRS. 2. Close all business bank accounts of the New Jersey Corporation If there are any business accounts that have been opened for the New Jersey Corporation then those accounts must be closed. If Corporate business accounts are left open there may be liability and obligations of the Dissolved New Jersey Corporation which could lead to legal problems. 3. Cancel all local business licenses and permits of the NJ Corporation If the New Jersey 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 New Jersey Corporation. This includes business registration licenses as well as reseller permits. 4. File IRS Form 966 All Dissolved New Jersey 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 New Jersey 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 NJ Corporation's Federal Tax ID (EIN) A Federal Tax ID, or Federal Employer Identification Number (EIN), is like the Social Security Number for the New Jersey Corporation.  Once the IRS links an EIN to a New Jersey Corporation, that EIN stays with the New Jersey Corporation even after the Company has been Dissolved by the New Jersey Department of Treasury. When the IRS processes the final tax return for the New Jersey 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 New Jersey Corporation down the line the IRS will reactivate the old EIN for your new Business. Before a New Jersey Corporation can close an EIN account, it must be in Good Standing with the IRS.  The New Jersey Corporation must have filed all required tax returns and paid any applicable fees and penalties due to the IRS.  The New Jersey 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 New Jersey Corporation? The time it takes to Dissolve a New Jersey 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 New Jersey Department of Treasury usually takes around 3-5 business days to process the Certificate of Dissolution.    more... less... The time it takes to Dissolve a New Jersey 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. The New Jersey Department of Treasury requires a Tax Clearance Certificate from the NJ Division of Revenue before it will aprove the Dissolution of a New Jersey Corporation. The time it takes the NJ Division of Revenue to process a request for a Tax Clearance Certificate depends on the tax status of the New Jersey Corporation. In some cases it could take 5-6 weeks to get a Tax Clearance Certificate from the New Jersey Division of Revenue. Once the initial actions are completed, the New Jersey Department of Treasury usually takes around 3-5 business days to process the Certificate of Dissolution. Processing times for New Jersey Corporation Dissolution filings vary depending on the work load of the Department of Treasury's staff.  We've found that normal processing of New Jersey Dissolution filings takes the state around 3-5 business days. PLEASE NOTE: WE CANNOT GUARANTEE NEW JERSEY DEPARTMENT OF TREASURY OR NEW JERSEY DIVISION OF REVENUE PROCESSING TIMES. We are dependent on, and have no control over, the staff and systems of the New Jersey Department of Treasury or New Jersey Division of Revenue. In our experience 3-5 business days is the time it usually takes the New Jersey Department of Treasury to process a New Jersey Dissolution filing. We get your New Jersey Corporation Dissolution filing to the NJ Department of Treasury ASAP. Once it is at the state we have no control over the New Jersey Dissolution approval process. How much does it cost to Dissolve a Corporation in New Jersey? The total cost to Dissolve a New Jersey Corporation varies depending on exactly what is required for each specific NJ Dissolution. We charge $249.00 plus any state fees for our New Jersey 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 Certificate of Dissolution with the New Jersey 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 NJ Secretary of State Priority Mail Delivery of all documents Unlimited Customer Support We also offer these New Jersey 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 NJ Domestic Corporation? If there are Foreign Corporations in states other than New Jersey that are tied to the Domestic New Jersey Corporation then each of those Foreign Corporations must be Dissolved before the New Jersey Corporation is legally Dissolved. Can I revoke Dissolution after it is approved by New Jersey? A New Jersey Corporation may revoke the Articles of Dissolution by filing a Certificate of Revocation of Dissolution with the NJ Department of Treasury within 60 days of the date on which the New Jersey Department of Treasury approved the Dissolution of a NJ Corporation. How long before someone can use my Corporation name in New Jersey after I Dissolve? A New Jersey Corporation company name is protected for one year from the date on which the NJ Department of Treasury approve the Dissolution of the New Jersey Corporation. After one year there are no Corporation company name protections in New Jersey once a New Jersey Corporation has been Dissolved by the New Jersey Department of Treasury. Do I have to publish a Notice of Dissolution of the New Jersey Corporation? There are no state of New Jersey requirements for the publication of a Notice of Dissolution of a New Jersey Corporation. While the New Jersey Department of Treasury does not legally require the publication of a Notice of Dissolution of a New Jersey Corporation, publication is a good way to notify anyone who might have a claim against the New Jersey Corporation.  Evidence of publication might prove useful down the line if someone makes a claim against the NJ Corporation after the New Jersey Corporation has been dissolved.	NEW JERSEY CORPORATION DISSOLUTION SERVICES For $249.00 our New Jersey Corporation Dissolution Services include: Same day processing explain We will start processing your application for a New Jersey Corporation Dissolution on the same day that you submit your order.  We get your NJ Corporation Dissolution filing to the New Jersey Department of Treasury as fast as possible.  Once they get the application, the NJ Department of Treasury usually takes 3-5 business days to process a New Jersey 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 Certificate of Dissolution with the New Jersey Department of Treasury Prepare US IRS Form 966 for you to sign and file Prepare documents to cancel the Federal EIN account linked to the New Jersey Corporation Certified copy of Dissolution filing from NJ Department of Treasury Priority Mail Delivery of all documents Unlimited Customer Support A LA CARTE NEW JERSEY DISSOLUTION SERVICES If you don't need our complete New Jersey 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 New Jersey Corporation then the Board is required to adopt a resolution to Dissolve the NJ 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 New Jersey. We will also compile a formal resolution to Dissolve the New Jersey Corporation for your records. Transcribe Shareholder meeting minutes - $75.00   explain If a New Jersey 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 New Jersey. Prepare and file Certificate of Dissolution - $75.00   explain As soon as the preliminary New Jersey Corporation Dissolution actions are completed we will prepare and file the Certificate of Dissolution with the New Jersey Department of Treasury in the quickest way possible Prepare IRS Form 966 - $65.00   explain All Dissolved New Jersey 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 New Jersey 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 New Jersey Corporation.  Once the IRS links an EIN to a New Jersey Corporation, that EIN stays with the New Jersey Corporation even after the Company has been Dissolved by the New Jersey Department of Treasury. When the IRS processes the final tax return for the New Jersey 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 New Jersey Corporation's EIN account closed as quickly as possible. Processing fees $249.00 New Jersey Dissolution fees $160.00 Optional services $0.00 Total cost $409.00 OUR ADVANTAGE We start processing your New Jersey Corporation Dissolution order as soon as it arrives. We get your documents to the New Jersey Department of Treasury in the quickest possible way.  We guarantee our work.  If you're not satisfied with our New Jersey Dissolution services we will refund 100% of your processing fees. We've been helping Corporations legally Dissolve in New Jersey for over ten years.  Our A+ BBB rating speaks for itself! 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