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We recently incorporated as a Delaware LLC S Corporation and now realize that we don't have enough capital to fund the business operations for the entire year. We are considering closing the business and are wondering what the process is and the costs for dissolving the entity? We've only had $1,000 of startup costs and we haven't officially transferred the planned capital into a bank account yet. Please advise.


ANSWER


The BIDaWIZ Team's Answer:

Closing the corporation requires getting in touch with the Delaware Secretary of State.   You can go online to http://sos.delaware.gov. Pull up the form 274 as it appears the business hasn't started or shares issued. 

This should be filed in accordance with the instructions.  Bank accounts should later be closed.

The BIDaWIZ Team

 

 

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