Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

When can a dissolving corporation use the simplified dissolution procedure?

April 26, 2017corporation dissolution dissolving procedure simplified

0

10 Posted

When can a dissolving corporation use the simplified dissolution procedure?

1 Answer

0

10 Posted

A dissolving corporation may utilize the simplified dissolution procedure if it has no more than $25,000 in a reserve fund to pay for the costs of winding up its affairs (e.g., legal and accounting fees), including liabilities which do not exceed $10,000.