Liquidation-and-Dissolution

Apr 30th, 2015
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Strayer University
Course: business and management
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The process of dissolving or liquidating a corporation can be as complicated as the forming of a corporation. The formation of a corporation includes the exchange of property and money, acquiring shareholders, and most importantly, setting up the statement of incorporation. When you dissolve or liquidate a corporation, you reverse the actions.

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Liquidation and Dissolution of a CorporationJohn SimpsonProfessor Michelle SlabiakStrayer UniversityAdvanced Federal TaxationJuly 22, 2012Liquidation and Dissolution of a CorporationThe process of dissolving or liquidating a corporation can be as complicated as the forming of a corporation. The formation of a corporation includes the exchange of property and money, acquiring shareholders, and most importantly, setting up the statement of incorporation. When you dissolve or liquidate a corporation, you reverse the actions. No matter which one you do, they both involve entities outside the business itself, such as paying suppliers and vendors, notifying the IRS of the liquidation, and stock return from shareholders of the corporation. Dissolving a corporation certainly has its own rules, regulations and requirements and to understand the processes necessary to liquidate, it is important to have an understanding of how the formation happens. In order to form a corporation, there are eight requirements that have to be met. First you need to choose a business name that complies with your states corporation rules then you need to appoint the initial directors of your corporation. Next you need to file formal paperwork, which is usually referred to as articles of incorporation and then you need to create corporate bylaws, which lay out the operating rules for your corporation. Next you should create a shareholders agreement. Then you n

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