Nothing is forever, not even in business. As a notable example, we can refer to already defunct industry giants like Toys R Us or Blockbuster. Who would have thought a couple of decades ago?
And it is that forming a corporation in Florida and being successful is a dream that many pursue and few achieve. So basically, it is essential to know the procedures to create and dissolve it. And the following are five steps you must follow to dissolve a corporation in the “Shining Sunshine State”:
- Evaluate Florida Business Corporation Law and review Chapter 607, Florida Statutes, so you are fully aware of all shareholder vote dissolution procedures
- Call a formal corporate meeting
- Present the dissolution proposal and take a vote for its approval. Consider that to achieve such approval must obtain the consent of the majority of the shareholders with the right to vote
- Once the motion is approved, file the Articles of Dissolution with the Florida Department of State (Corporations Division).
- Make sure you have submitted all additional items required by the business segment.
Although there seems to be no significant complication, the dissolution of a corporation can be a complex process that should not leave any loose ends. Therefore, the best thing for these cases is to have the advice of an expert in Business Formation such as Noelia Ramos Law. If you have any questions, write to us today at email@example.com.