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C159S 07/07 New Jersey Division of Revenue Certificate Of Dissolution, Pursuant to Action of Board and Shareholders For Use by Domestic Profit Corporations (NASA 14A:124) 1. Name of Corporation: 2.

How to fill out c-159a certificate of dissolution

How to fill out c-159a certificate of dissolution:

1. Begin by obtaining the necessary form. The c-159a certificate of dissolution can typically be found on the official website of the relevant government agency or department.
2. Fill out the header section of the form, providing your business name and address as well as the date.
3. Indicate the jurisdiction under which your business is registered. This refers to the government authority that oversees your business's operations and legal compliance.
4. Provide the reason for dissolution. This could be a voluntary decision by the business owners, bankruptcy, or other legal reasons. Make sure to accurately and clearly state the reason.
5. Include information about the shareholders or members of the business and their respective ownership percentages or interests.
6. Indicate whether any outstanding debts or liabilities exist. If so, provide details about the creditors and the amounts owed.
7. Sign and date the form. It is important to have the form signed by authorized individuals, such as the owners or directors of the business.
8. Submit the completed form to the appropriate government agency or department, along with any required fees or supporting documents.
9. Keep copies of the completed form, as well as any receipts or acknowledgments of submission.

Who needs c-159a certificate of dissolution:

1. Businesses owners who have decided to dissolve their company voluntarily.
2. Businesses that have gone bankrupt or are facing insurmountable financial difficulties.
3. Companies undergoing a merger or acquisition where the dissolution of a subsidiary or division is necessary.
4. Organizations that are required by law or regulation to dissolve or terminate their operations.
5. Non-profit organizations or charitable institutions that have completed their mission or are no longer able to sustain their activities.

It is important to consult with legal professionals or relevant government agencies to ensure compliance with local laws and regulations when filing for a certificate of dissolution.

People Also Ask about

Is termination the same as dissolution?

While both words are concerned with the end of a business partnership, dissolution refers to the process itself, and usually to the departure (or death) of one or more individuals from the entity, while termination refers to the cessation of all operations, including the disposal of all assets.

What is the difference between dissolution and dissolution and termination?

Although some people confuse dissolution and termination, dissolution does not terminate an LLC's existence. What it does is change the purpose of its existence. Instead of conducting whatever business it conducted before, a dissolved LLC exists solely for the purpose of winding up and liquidating.

How do I dissolve a nonprofit corporation with the IRS?

For federal tax purposes, you'll need to file IRS Form 990 or IRS Form 990-EZ. You must include a completed Schedule N (Liquidation, Termination, Dissolution, or Significant Disposition of Assets), as well as copies of your certificate of dissolution and resolution to wind up and dissolve.

What is the difference between certificate of dissolution and dissolution and termination in NJ?

These terms are often used interchangeably, but have distinct legal meanings. Dissolution is the winding up of the affairs of the entity in advance of the termination of the entity. Termination of the entity occurs when the entity ceases to legally exist.

How do I dissolve a not for profit corporation in California?

To finalize dissolution with the Secretary of State, a nonprofit corporation is required to obtain from the Attorney General either a written waiver of objections to the dissolution concerning the distribution of the corporation's assets or a written confirmation that the corporation has no assets.

How do I close a nonprofit with the IRS?

For federal tax purposes, you'll need to file IRS Form 990 or IRS Form 990-EZ. You must include a completed Schedule N (Liquidation, Termination, Dissolution, or Significant Disposition of Assets), as well as copies of your certificate of dissolution and resolution to wind up and dissolve.

How do I file a dissolution of a corporation in California?

Steps to dissolve, surrender, or cancel a California business entity File all delinquent tax returns and pay all tax balances, including any penalties, fees, and interest. File the final/current year tax return. Cease doing or transacting business in California after the final taxable year.

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