What do I have to do to stop operating my business corporation

What do I have to do to stop operating my business corporation


What do I have to do to stop operating my business/corporation?

There are a number of steps involved in dissolving a business. CorporationCentre.ca can directly assist with the dissolution filing with the jurisdiction of incorporation. However there are other steps that only you can take care of, for example, filing the corporation’s last tax return and closing all tax accounts.

There are six primary steps involved when dissolving a company. They are:

  1. Corporate action
  2. Filing articles of dissolution with the jurisdiction of incorporation
  3. Filing all necessary federal, provincial, and local tax forms
  4. Statutory notification to creditors
  5. Settling creditors' claims
  6. Distribution of remaining business assets

​

To learn more or to perform some compliance check out our site: https://www.corpcentre.ca/compliance-centre/
​


    • Related Articles

    • Process to file Articles of Dissolution (close a corporation)

      What is the process to file Articles of Dissolution? The owners of the corporation must approve the dissolution of the business. With corporations, the shareholders must approve this action. The bylaws of a corporation typically outline the process ...

    • Government Fees to Dissolve a Corporation (close a corporation)

      What are the Government Fees to Dissolve a Corporation? business corporation requires the filing of Articles of dissolution and the necessary legal minute book resolutions and records. Below are the current government dissolution fees for Canadian ...

    • Articles of Dissolution - closing of a corporation

      What are Articles of Dissolution? Articles of dissolution are the mechanism which the corporation files with the relevant corporation when it wishes to terminate its existence. If your corporation is ceasing operations, is already is no longer in ...

    • What is corporate compliance or maintenance?

      Once a corporation is formed it has legal obligations to stay compliant with corporate laws and remain in good standing. These obligations are generally triggered when changes occur. These requirements are referred to “Corporate compliance” or ...

    • Closing a corporation that has property left over

      What do I do if the corporation has property left over? After payment of creditors' claims, the remaining assets, if any, may be distributed to the owners of the company. Assets are distributed in proportion to the share of ownership of “common” and ...