[Your Name] [Your Address] [City, State, ZIP Code] [Date] [Recipient's Name] [Recipient's Address] [City, State, ZIP Code] Subject: Official Notice of Intent to Administratively Dissolve or Revoke Dear [Recipient's Name], I hope this letter finds you in good health and high spirits. I am writing to officially notify you of our intent to administratively dissolve or revoke [your organization's name]. This decision has been taken after careful consideration and assessment of our current circumstances. As per the regulations outlined by the New Jersey Division of Revenue and Enterprise Services, a Registered Agent must file annual reports and taxes on behalf of the incorporated entity. Failure to do so can lead to administrative dissolution or revocation of the entity's privileges. Unfortunately, due to various reasons, we have been unable to fulfill these requirements, which has led us to this decision. The purpose of this letter is to serve as an official notice of our intent to initiate the administrative dissolution or revocation process. We understand the seriousness of the consequences and have explored all possible options to remedy the situation. However, despite our efforts, we have been unable to rectify the non-compliance and thus, find it appropriate to proceed with the dissolution or revocation. It is vital to acknowledge that the administrative dissolution or revocation of [your organization's name] will discharge the entity from its legal and financial obligations. As a result, any outstanding liabilities or debts will be extinguished, provided they were incurred prior to the date of dissolution or revocation. We are working diligently to ensure that all pending matters are resolved and that stakeholders are adequately informed. It is important to note that there may be different types of New Jersey Sample Letters for Official Notice of Intent to Administratively Dissolve or Revoke based on the reason for non-compliance. These reasons may include failure to file annual reports, failure to pay franchise taxes, or any other violation of the state's regulations governing incorporated entities. Each specific violation may entail a slightly different letter format and content. While we deeply regret having to take this course of action, we acknowledge our responsibility to comply with the state laws and regulations. Our decision to dissolve or revoke [your organization's name] is both lawful and necessary in light of our current standing. We kindly request your understanding and cooperation throughout this process. If you have any questions or concerns, please do not hesitate to reach out to our designated point of contact, [Your Name], at [Your Phone Number] or [Your Email Address]. Thank you for your attention to this matter. Sincerely, [Your Name] [Your Title] [Your Organization's Name] [Your Contact Information]
New Jersey Sample Letter for Official Notice of Intent to Administratively Dissolve or Revoke
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How to fill out New Jersey Sample Letter For Official Notice Of Intent To Administratively Dissolve Or Revoke?
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FAQ
Admin dissolution for annual report definition is the temporary removal of a company's ability to conduct business in the state of registration because they failed to file the required annual reports or follow other legal guidelines.
People who continue to operate a business that has been dissolved, are taking a serious risk. That's because once the company dissolves, the corporate protections no longer exist. That means that someone who operates the dissolved business, can be sued personally for anything the (dissolved) company does.
Administrative dissolution is the taking away of the rights, powers, and authority of a domestic corporation, LLC, or other statutory business entity by the state administrator overseeing business entities, due to the entity's failure to comply with certain obligations of the business entity statute.
What is a business dissolution? A business dissolution is a formal closure of a business with the state. A small business cannot hang up a ?closed? or ?out of business? sign outside their storefront, turn off the lights, and lock their doors to be considered a dissolved business.
Status dissolved companies have been formally closed down. Not only does that mean it no longer operates, but there are also other matters that need attending to. All assets and liabilities must be addressed, similar to the process of settling the estate of someone who has passed away.
Once a company is dissolved, it no longer exists as a legal entity and cannot conduct business or enter into contracts. Dissolution may also trigger a number of certain legal obligations, such as the distribution of remaining assets to creditors or shareholders. It also might involve the filing of final tax returns.
