Subject: Texas Sample Letter for Annual Report — Dissolved Corporation [Your Name] [Your Title/Position] [Your Company Name] [Your Company Address] [City, State, ZIP Code] [Email Address] [Phone Number] [Date] [Recipient's Name] [Recipient's Title/Position] [Recipient's Company Name] [Recipient's Company Address] [City, State, ZIP Code] Dear [Recipient's Name], RE: Texas Annual Report — Dissolved Corporation I hope this letter finds you well. As a dissolved corporation, we are writing to provide you with the annual report required by the State of Texas. This report serves as a comprehensive review of our corporation's activities and financial status during the period of dissolution. 1. Background: Our corporation, [Corporation Name], was formed under the laws of the State of Texas. After completing all necessary dissolution procedures, as outlined by the Texas Secretary of State, our corporation ceased all business operations, winding up affairs, and liquidating assets in accordance with applicable laws and regulations. 2. Purpose of Annual Report: The purpose of this report is to comply with the Texas Business Corporation Act, which requires to be dissolved corporations to submit an annual report to the Texas Secretary of State. This report provides a transparent overview of our corporation's financial activities, assets, liabilities, and distributions during the dissolution period. 3. Key Components of the Annual Report: The Texas Annual Report — Dissolved Corporation consists of the following essential sections: a) Cover Letter: This introductory letter summarizes the report's details and purpose, along with any additional information deemed relevant. b) Corporation Information: A detailed overview of the dissolved corporation's legal name, entity number, date of dissolution, registered agent information, and principal place of business during dissolution. c) Financial Statements: The financial statement section includes a balance sheet, an income statement, a statement of cash flows, and accompanying notes. These statements provide a snapshot of the corporation's financial performance during the dissolution period. d) Asset and Liability Report: This section provides a breakdown of the corporation's assets and liabilities at the end of the dissolution period. e) Distribution Report: A summary of the corporation's distributions made to shareholders, creditors, and any other relevant parties during the dissolution period. 4. Variations of Texas Sample Letter for Annual Report — Dissolved Corporation: Depending on the specific circumstances of the dissolved corporation, there may be variations of the Texas Sample Letter for Annual Report — Dissolved Corporation, including: a) Final Annual Report: If the annual report provided is the final report due to the completion of all dissolution procedures, it should be explicitly stated. b) Annual Report for Multiple Years: In some cases, dissolved corporations may need to provide an annual report for multiple years if the dissolution process took longer than expected or if additional financial periods fall within the dissolution period. c) Amended Annual Report: If there are any errors or omissions found in a previously submitted annual report, an amended annual report may be necessary to rectify these issues. It is essential to clearly state that the report is an amendment. We trust that this Texas Sample Letter for Annual Report — Dissolved Corporation accurately reflects the necessary information required by Texas state law. If you require any additional documents, information, or have further inquiries, please do not hesitate to contact us using the provided contact details. Thank you for your attention to this matter, and we appreciate your assistance in fulfilling our obligations as a dissolved corporation within the State of Texas. Sincerely, [Your Name] [Your Title/Position] [Your Company Name]
Texas Sample Letter for Annual Report - Dissolved Corporation
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FAQ
After a company is dissolved, it must liquidate its assets. Liquidation refers to the process of sale or auction of the company's non-cash assets. Note that only those assets your company owns can be liquidated. Thus, you can't liquidate assets that are used as collateral for loans.
How do you dissolve a Texas corporation? To dissolve your Texas corporation, you file Form 651 Certificate of Termination of Domestic Entity and accompany that with a tax clearance certificate from the Texas Comptroller of Public Accounts indicating that all taxes have been paid by the entity.
Lawsuits may be filed and served against a dissolved corporation whether the cause of action arose before or after dissolution. California Code of Civil Procedure section 416.20; Corporations Code section 2011(a)(1).
All states have enacted laws that allow for a dissolved corporation, limited liability company, etc., to exist for a certain amount of time (varying from state to state) following dissolution for purposes of engaging in all activities necessary to wind up the business and to sue or be sued.
Reinstatement in California Dissolved California entities cannot be reinstated, so in case like that you would need to file as a new entity.
Yes, in certain circumstances. You may be able to sue a dissolved corporation or a dissolved limited liability company for a period of time after dissolution, especially if it failed to wind up its business and dissolve properly.
