Washington Plan of Liquidation and Dissolution of a Corporation

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Multi-State
Control #:
US-0076BG
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Word; 
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Description

Dissolution is the act of bringing to an end. It is the act of rendering a legal proceeding null, or changing its character. Under corporate law, it is the last stage of liquidation. Dissolution is the process by which a company is brought to an end.



Liquidation is the selling of the assets of a business, paying bills and dividing the remainder among shareholders, partners or other investors. A business need not be insolvent to liquidate. Upon liquidation of certain business, such as a bank, a bond may be required to be posted to assure the proper distribution of assets to creditors.

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FAQ

If you want to dissolve a Washington corporation, you must undertake a two-step process. You must first file with the Department of Revenue, which will confirm that you have paid all of your business taxes. Second, you must file with the Secretary of State, which will dissolve your Washington corporation.

A plan of dissolution is a written description of how an entity intends to dissolve, or officially and formally close the business. A plan of dissolution will include a description of how any remaining assets and liabilities will be distributed.

The liquidating corporation distributes all of its assets to its shareholders, the assets are distributed in one or a series of distributions, the distributions are in redemption of all of the corporation's stock, the distributions are made pursuant to a plan of liquidation.

A plan of dissolution is a written description of how an entity intends to dissolve, or officially and formally close the business. A plan of dissolution will include a description of how any remaining assets and liabilities will be distributed.

7 Steps to Dissolving a Washington Corporation: Submit a Revenue Clearance Certificate Application. ... Wait for processing. ... Fill out Articles of Dissolution. ... Attach the certificate. ... Submit Articles of Dissolution. ... Wait for processing. ... Inform your registered agent.

A plan of liquidation and dissolution that can be used for the dissolution of a Delaware corporation wholly owned by a US parent corporation when the parties intend to qualify the dissolution as a tax-free liquidation under Sections 332 and 337 of the Internal Revenue Code.

Administrative dissolution Termination (dissolution) of a Washington corporation or other Entity by the Secretary of State because the entity failed to meet a requirement in statute, such as filing an annual report or maintaining a registered agent.

The quick answer. Liquidate means a formal closing down by a liquidator when there are still assets and liabilities to be dealt with. Dissolving a company is where the business is struck off the register at Companies House because it is now inactive.

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Washington Plan of Liquidation and Dissolution of a Corporation