Virginia Articles Of Termination Of Corporate Existence By Initial Directors Or Incorporates Stock Corporation is a document used to dissolve a Virginia stock corporation. It is filed with the Virginia State Corporation Commission and must be signed by the initial directors or incorporates of the corporation. The document includes information about the corporation, such as its name, address, and the date of its incorporation. It also includes a statement indicating that the directors or incorporates are in agreement about the dissolution of the corporation. Once the document is filed, the corporation will no longer exist. There are two types of Virginia Articles Of Termination Of Corporate Existence By Initial Directors Or Incorporates Stock Corporation: voluntary dissolution and involuntary dissolution. In a voluntary dissolution, the initial directors or incorporates of the corporation voluntarily agree to terminate the corporation. In an involuntary dissolution, the State Corporation Commission may terminate the corporation due to non-compliance with the Virginia State Corporation Law.
Virginia Articles Of Termination Of Corporate Existence By Initial Directors Or Incorporators Stock Corporation
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Visit to file articles of dissolution and/or termination of a Virginia Stock Corporation in real time. Questions? P.O. Box 1197 Richmond, VA 23219 Richmond, VA 23218-1197 Pay online with a credit card or eCheck. No additional processing fees apply for filing online.
How to dissolve a business in 7 steps Step 1: Get approval of the owners of the corporation or LLC.Step 2: File the Certificate of Dissolution with the state.Step 3: File federal, state, and local tax forms.Step 4: Wind up affairs.Step 5: Notify creditors your business is closing.Step 6: Settle creditors' claims.
To incorporate your company, you must file the Articles of Incorporation with the Virginia State Corporate Commission (SCC). You can file online, or download the PDF from the Virginia SCC website and submit via mail or in person.
With the articles of termination of corporate existence, the corporation shall file a statement certifying that the corporation has filed returns and has paid all state taxes to the time of the statement.
Dissolving a corporation successfully takes several key steps. Such requirements may vary across the fifty states. Generally, it is recommended that business owners get legal assistance to file the necessary documents with the proper state agencies.
When a corporation's board of directors or an LLC's members decide to dissolve a corporation without any mandate, it is called voluntary dissolution. The stockholders must vote in favor of the dissolution.
There are two types of corporations in Virginia, stock corporations, which are authorized to issue shares to persons who become shareholders, the owners of the corporation, and nonstock corporations, which may have members, but not owners. Stock corporations are usually formed to generate a profit for the shareholders.
To dissolve your Virginia Corporation that has not issued shares or has not commenced business, you file Form SCC751, Articles of Termination of Corporate Existence. This form needs to be signed by a majority of initial directors or if there are none, by a majority of the incorporators.