In order to properly close a corporation or LLC that is no longer transacting business the company must file Articles of Dissolution with the state of incorporation. Neglecting to file Articles of Dissolution for a company that is no longer active may expose the corporation or LLC to unnecessary recurring fees or taxes.
Requirements to file Articles of Dissolution:
The company must be in good standing with the state of incorporation and cannot be in arrears of franchise taxes or annual reporting requirements. In the event that the entity is not in good standing reinstatement would be required in order to proceed with the dissolution.