Dissolving a company is a difficult decision, especially if the owners of the company do not agree on how to run the business. Texas institutions, as a society of responsibility limited or corporation must file the appropriate form with the Secretary of State of Texas. Most of the partners or shareholders of the company have to order the dissolution of the company, which is documented in a written resolution. Associations and individual companies in Texas do not have to file dissolution papers with the secretary of state of Texas to end the business.
Cease all activities of the business. Notify creditors, suppliers and customers of the impending dissolution. Write a written notice to each creditor establishing the terms for filing claims against the company.
Satisfy all claims of creditors. A Texas business entity must make arrangements satisfactory to all creditors payments as part of the dissolution process. Liquid assets, if necessary, to satisfy claims of creditors against the company. Send to creditors written notice regarding the reasons for rejecting a claim, if necessary. Pay any balance owed to the Comptroller of Public Accounts Texas tax. The company must be current on all charges due to the secretariat of the State of Texas.
Choose a letter from paying taxes to the Comptroller of Public Accounts Texas. Form 05-359, also known as a Certificate of Account Status to terminate the existence of a taxable entity in Texas, the website of the Comptroller of Public Accounts Texas (see Resources). Indicates the legal name and tax identification number of the company, the file number assigned to the entity by the Secretary of State of Texas and the signature of an authorized person. Email Form 05-359 to the Comptroller of Public Accounts of Texas, PO Box 149348, Austin, TX, 78714-9348. The Comptroller of Public Accounts Texas can take four to six weeks to submit a letter of taxation.
Print Form 651, also known as certificate of completion of a form of national institution, the website of the Secretariat of the State of Texas (see Resources). Provides the name and structure of the entity of Texas, the date of incorporation and the number issued by the Texas Secretary of State when the entity was formed record. Include the name and address of the person who has power over the business. Check the appropriate box to indicate the reason for the dissolution of the company and the effective date of dissolution.
Filed two copies of Form 651 with the Secretary of State of Texas, along with a certificate statement issued by the Comptroller of Public Accounts Texas. You fax the forms to 512-463-5709 or mail to PO Box 13697, Austin, TX, 78711-3697. Delivery documents in person at the office building James Earl Rudder, 1019 Brazos, Austin, TX, 78701. As of 2011, it costs $ 40 to file Form 651 with the secretary of state of Texas. There is no fee for filing a certificate of account status.
Distribute the remaining assets of the entity to the shareholders or partners of the company. The remaining assets after satisfying the claims of creditors should be divided among the shareholders and members in accordance with the terms of the bylaws of the company, operating agreement or partnership agreement.