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This document allows for the purchase of assets or stock of a corporation. An attorney should review it to make sure it's accurate and comprehensive.A taxpayer that has a resale certificate and is closing its business must notify its suppliers in writing that its certificate is no longer valid. Collect outstanding accounts receivable (before you notify customers you're going out of business). Sale of a Business . We're going to give them advance notice even though we aren't obligated to do so under the union contract. The Warn Act is a federal law requiring employers of 100 or more full-time workers to give 60 days advance notice of a plant closing or mass layoff. Opportunities include pre-solicitation notices, solicitation notices, award notices, and sole source notices. However, going out of business does not always require closing the business or liquidation. All annual reports must be filed prior to filing the dissolution, withdrawal, or cancellation.