Why is it important to formally dissolve a company?

Dissolving a company is an essential step when closing down, as it limits the legal liabilities of the company’s owners or shareholders. If the company is not dissolved properly, the owners may still be vulnerable to:
Financial claims from creditors
Lawsuits
Tax Liabilities and Late Fees
Ongoing State Reporting Requirements
Potential for Business Identity Theft
If you do not formally dissolve your corporation, your state may still charge you back taxes and fees, and you will still be obligated to pay existing rents and contracts.

Types of corporate solution

There are two types of company dissolution, and dissolution can be either mandatory or voluntary:

Voluntary dissolution This decision is made voluntarily by the owners or shareholders of a company when they decide to cease business operations. It is the first step towards the final closure of the company in a legal and orderly manner.

Compulsory solution (administrative solution)
This happens when a company fails to comply with legal requirements such as not filing annual reports or not paying taxes. In this case, the Secretary of State’s office dissolves the company without the consent of its owners.

How can we help you?

We will help you legally close your company by:
Check for any overdue reports or unfulfilled obligations.
Submit the required documents to officially dissolve the company.

How long does it take?

The application is submitted within 15 days, and the official documents arrive after about 20 additional days (depending on Wyoming state procedures).