Delaware Timetable for Dissolving Your Corporation
Are you wrapping up your Delaware Corporation? Are you overwhelmed with which fees to pay and documents to be filed? We identify with these challenges, and when it’s time to file a Certificate of Dissolution with Delaware, we are here to help.
When it comes time to file a Certificate of Dissolution, you may file the documentation with the Delaware Secretary of State directly or you may request that Harvard Business Services, Inc. assists you, for a reasonable service fee. When we assist with a filing, we create the necessary documentation and forward it to you for electronic signature. Immediately after you return the documents to our filings team, we file the documents with the State of Delaware.
The cost for a Certificate of Dissolution varies depending on the stock structure of your company. Our team is well versed in all aspects of the dissolution process. When dissolving a company, the State of Delaware requires all taxes and Annual Reports to be settled, including the current tax year. If you would like to dissolve your company in the year of 2021, the 2021 Franchise Tax must be satisfied, and the Certificate of Dissolution must be filed no later than December 30th, 2021 (as the State of Delaware is closed on December 31st, 2021). If the filing misses the deadline and rolls into the year of 2022 by even one day, the 2021 and 2022 Franchise Tax must be paid in order to proceed with closing the company. We understand your need to be as economical as possible, especially during these incredibly trying times, and we want to ensure that clients are aware of Delaware’s requirements for dissolving a company.
Please note - turnaround times differ when filing directly with the State of Delaware versus working with Harvard Business Services, Inc. The State’s typical turnaround time is 3-4 weeks and can be extended during the end-of-year pandemonium. However, if Harvard Business Services, Inc. assists you with the filing, the turnaround time is shortened to a typical turnaround time of 3-5 business days.
Once the Certificate of Dissolution is approved, we email you the date-stamped Certificate of Dissolution from the Delaware Secretary of State. This means you have officially dissolved your company! Our system and the Secretary of State’s are updated accordingly to reflect that the company has been officially dissolved; therefore, no additional Registered Agent fees need to be paid.
We sympathize with how overwhelming closing your business can be. Harvard Business Services, Inc. is here to serve you for all of your business needs, and we are only a short email or call away.
*Disclaimer*: Harvard Business Services, Inc. is neither a law firm nor an accounting firm and, even in cases where the author is an attorney, or a tax professional, nothing in this article constitutes legal or tax advice. This article provides general commentary on, and analysis of, the subject addressed. We strongly advise that you consult an attorney or tax professional to receive legal or tax guidance tailored to your specific circumstances. Any action taken or not taken based on this article is at your own risk. If an article cites or provides a link to third-party sources or websites, Harvard Business Services, Inc. is not responsible for and makes no representations regarding such source’s content or accuracy. Opinions expressed in this article do not necessarily reflect those of Harvard Business Services, Inc.
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There are 2 comments left for Delaware Timetable for Dissolving Your Corporation
Patricia Weathersbee said: Wednesday, December 1, 2021I would like to talk to someone about dissolving my company. Thank you, Patricia Weathersbee
HBS Staff replied: Thursday, December 2, 2021Hello Patricia,
We will be happy to reach out to you to provide more information on closing your company.
Antulio Cortez said: Wednesday, December 1, 2021I registered my LLC with you, but I really dont use it, how much is it to close it? Regards.
HBS Staff replied: Wednesday, December 1, 2021Hello Antulio!
Please fill out this form on our website and a member of our filings team will reach out to you with getting the cancellation process started! https://www.delawareinc.com/llc/how-to-cancel-an-llc/#request