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CalAttorney2
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Category: Real Estate Law
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Experience:  I am a civil litigation attorney with experience representing HOAs, homeowners, businesses and others in real estate matters.
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How do you dissolve an Arkansas Sub Chapter "S" corporation

Customer Question

How do you dissolve an Arkansas Sub Chapter "S" corporation ?
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  CalAttorney2 replied 1 year ago.
You will need to do several things:Part of this is mechanical - take a shareholder vote, record this in the corporate records, file "Articles of Dissolution" with the Secretary of State, and make the last filing with the Arkansas Franchise Tax.Part of it is Accounting - the "winding down" liquidate the corporate assets, pay your corporate debts, and if there is any surplus, make distributions to shareholders.If there is not sufficient corporate assets to pay your creditors, you may want to notice those creditors that you are not paying that you are dissolving and that no further payments will be made (but I would advise speaking with legal counsel regarding this situation - while you are protected from personal liability, unpaid debts have a way of creating litigation).For more information, see generally: http://www.nolo.com/legal-encyclopedia/how-dissolve-corporation-arkansas.html

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