If your business has been struggling for a while, it may be tempting to imagine shutting the door and walking away. You just want to move on with your life. But dissolving a business entity the right way — by placing the public and the IRS on notice that this business no longer exists — protects you from the possibility of personal liability and future tax liability.
If you worked with one of the Frisco business law attorneys at Albin Oldner Law, PLLC to form your business, you already have a dissolution strategy in place, such as termination or buyout provisions in your partnership or corporate formation documents drafted when you launched your business.
If you didn’t start your company with us, no problem. Our business dissolution lawyers can develop an exit plan with the goal of limiting your costs and helping you recover as much of your business investment as possible.
There are many reasons why you might decide to dissolve a business: not enough profits, market changes, problems getting needed supplies, new regulations, workforce issues, even management or partnership problems. The reason for the dissolution of your business may inform the approach we take with:
Take the right steps to dissolve your business under the best conditions possible.